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Japanese brewer Kirin has announced the acquisition of Blackmores, an Australian vitamin and supplement producer, in a deal worth $1.2 billion.
According to a Reuters report, the deal will enable Kirin to further diversify its portfolio. While alcoholic beverages comprise around half of Kirin’s sales, the company also has a health sciences division which the Blackmores acquisition is intended to complement.
The Blackmores product range includes vitamins, dietary supplements and infant formula under the Blackmores brand, nutritional and therapeutic supplements under the BioCeuticals brand, and pet supplements under the Paw by Blackmores brand name.
“In the health sciences area, Kirin is strong in Japan while Blackmores has a strong presence in Australia, China, and Southeast Asia”, Kirin senior executive officer Takeshi Minakata is quoted as saying. “The combination of the two companies will enable us to supplement each other’s coverage in areas that have not been covered so far”.
The transaction is expected to close in August.
Source: Kirin / Reuters
