Kirin to Buy Japan Supplement Maker Fancl for More Than $1.4 Billion
By Kosaku Narioka
Kirin Holdings plans to acquire Japanese cosmetics and dietary-supplement maker Fancl for more than US$1.4 billion as part of efforts to expand its health business.
The Japanese beer maker said Friday that it would spend 220.72 billon yen (US$1.41 billion) to purchase shares in Fancl that it didn't already own through a tender offering.
Kirin holds a stake of about 33% in the cosmetics and supplement maker.
The planned acquisition follows Kirin's move in August to buy Australian nutritional supplement maker Blackmores for 1.88 billion Australian dollars (US$1.25 billion) in a bid to expand its supplement business.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
June 14, 2024 02:41 ET (06:41 GMT)
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