Blackmores is an Australian-based company that produces and sells vitamins, minerals, and herbal supplements. The acquisition is seen as a strategic move for Kirin, which has been looking to expand its presence in the health and wellness sector.
According to a joint statement released by Kirin and Blackmores, the deal will enable the two companies to collaborate and leverage each other’s strengths to create new and innovative products that will meet the growing demand for health and wellness products globally.
Kirin CEO Yoshinori Isozaki stated that the acquisition was part of the company’s strategy to transform itself into a “global leader in health and wellness.”
The acquisition is subject to regulatory approval in Australia and is expected to be completed by the end of the year. The deal will see Kirin acquire all of Blackmores’ shares at $5.81 per share.
Blackmores CEO Alastair Symington said the deal represented a “compelling opportunity” for the company to accelerate its growth in the global health and wellness market.
Symington added that Kirin’s “commitment to quality, innovation, and sustainability” was aligned with Blackmores’ values and would provide significant benefits to its customers and stakeholders.
The news of the acquisition has been met with mixed reactions. While some industry experts have praised the move as a smart strategic move for Kirin, others have expressed concerns about the potential impact on Blackmores’ employees and the broader Australian health and wellness industry.
- Published By Team Australia News