Kirin, Japan’s second-largest brewer, has announced it is foraying further into the health and beauty space with the ¥129.3 billion ($1.22 billion) acquisition of a 30.3% stake in cosmetics and health food maker Fancl, according to a report in the Nikkei Asian Review.
The alliance between the two firms will reportedly focus on the joint development of health foods, drinks and supplements. The companies are also said to be considering developing skin care products based on Kirin’s technological capabilities.
Fancl, which markets a range of skincare and makeup products as well as supplements, recorded sales of ¥122.5 billion ($1.15 billion). The nutritional supplement segment reportedly generated around ¥44 billion ($410 million).
Both companies will also conduct joint research in areas as preventing adult-onset diseases, strengthening immune defences and improving the gastrointestinal biome, the Nikkei Asian Review reports.
Source: Nikkei Asian Review