Japanese drinks giant Kirin Holdings has agreed to acquire 100% of the outstanding shares of natural health business, Blackmores.
As part of the AUD 1.88 billion (approx. $1.24 billion) deal, Kirin plans to commence procedures to make Blackmores a subsidiary.
The deal is part of Kirin’s vision to broaden its business beyond alcoholic beverages by contributing to “resolving social issues in the fields of people’s health and wellbeing” by “raising the number of healthy people” and contributing to the people who are involved in healthcare.
The acquisition is set to transform Kirin’s Health Science business, part of the company’s long-term vision ‘Kirin Group Vision 2027’, in which Kirin aims to “become a global leader in CSV by creating value across our world of food and beverages to pharmaceuticals”.
Through acquiring Blackmores, Kirin will grow its Health Science business’s product range and capabilities and broaden its geographic profile and growth opportunities. It will expand access to Kirin’s ingredients to hundreds of millions of consumers in the Asia-Pacific region through Blackmores’ distribution network.
The Health Science business will also benefit from Blackmores’ knowledge of consumer demands and its understanding of country-specific regulations.
In a statement, Kirin said: “By creating synergies in a wide range of business areas in which both companies operate, we will solve more of the social issues related to people’s health”.
The acquisition is subject to certain approvals, including approval of the proposed deal at a general meeting of Blackmores’ shareholders and the approval of the Australian Federal Court.
By Phoebe Fraser
Source: foodbev.com
After eight years with Nestlé, François-Xavier Roger, executive vice president and chief financial officer (CFO), has decided to leave the company to pursue new professional challenges, making way for finance boss Anna Manz. Meanwhile, Unilever announced that Graeme Pitkethly, CFO, will retire by the end of May 2024, and the hunt is on for his successor.
International spirits company Bacardi Limited has announced the appointment of Alicia Enciso to its board of directors. Enciso joins with more than 30 years of experience with multinational Fortune 100 Companies in the food and beverage sector with roles as general manager, president, chief marketing officer and e-business officer.
According to Innova Market Insights, when it comes to beverages, consumers are willing to pay more for what they value most, despite rising inflation. Additionally, consumers want brands that respond to their core values and have the benefits they seek, such as sustainability and functional ingredients.
