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 [e-mail]

(END) Dow Jones Newswires

06-14-24 0241ET