Japan's Kirin to acquire Australian health food company Blackmores for $1.2 billion

( April 27, 2023, 03:44 GMT | Official Statement) -- MLex Summary: Japanese beverage maker Kirin Holdings agreed to buy all the shares of Australian health food company Blackmores for A$1.88 billion ($1.2 billion), the Tokyo-based company said today. Blackmores is Australia’s largest nutritional supplement company, with operations in Oceania, Southeast Asia and China. The Japanese beer maker aims to strengthen its health science sector and found Blackmores “highly complementary” to its business and growth strategy. After securing approvals from Blackmores shareholders, the Federal Court of Australia, the Australian Foreign Investment Review Board and other regulators, Kirin plans to buy all the shares of Blackmores in early August, delist Blackmores from the Australian Securities Exchange, and make it a Kirin subsidiary. Kirin plans to buy the shares for cash through a “scheme of arrangement” procedure, which requires approvals from Blackmore shareholders at a general meeting, the Federal Court of Australia and others. A statement is attached....