Japan’s Kirin Gains Control of Fancl in Diversification Push

Bloomberg09-12

(Bloomberg) -- Kirin Holdings Co. completed its takeover of Fancl Corp., in a deal that will help the Japanese brewer achieve its goal of diversifying revenue beyond alcohol and beverages. The company...

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Before the takeover offer, Kirin already held 32.6% of Fancl.The acquisition is in keeping with Kirin’s strategy to diversify into wellness and healthcare to boost revenue streams, amid declining sales of alcohol in a nation grappling with an aging population. Fancl will help strengthen Kirin’s health science business, along with Blackmores, the largest Australian health food company, which it acquired in 2023.Kirin’s final offer for Fancl represented a 110 per share increase from its initial bid, and the company had intended to spend 230 billion on the transaction.Fancl shares closed 0.25% higher, the most since Aug. 28, at 2,795 a","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4158":"啤酒酿造商","KNBWY":"Kirin Holdings Co., Ltd.","KNBWF":"Kirin Holdings Co., Ltd."},"translate_title":"日本麒麟收购Fancl控制权推动多元化","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KNBWF":0.9,"KNBWY":0.9},"content_text":"(Bloomberg) -- Kirin Holdings Co. completed its takeover of Fancl Corp., in a deal that will help the Japanese brewer achieve its goal of diversifying revenue beyond alcohol and beverages.\nThe company gained control of 75.2% of the Japanese skincare and supplement brand after holders of 42.7% of shares accepted its ¥2,800-a-share offer ($19.65), according to an exchange filing. Before the takeover offer, Kirin already held 32.6% of Fancl.\nThe acquisition is in keeping with Kirin’s strategy to diversify into wellness and healthcare to boost revenue streams, amid declining sales of alcohol in a nation grappling with an aging population. Fancl will help strengthen Kirin’s health science business, along with Blackmores, the largest Australian health food company, which it acquired in 2023.\nKirin’s final offer for Fancl represented a ¥110 per share increase from its initial bid, and the company had intended to spend ¥230 billion on the transaction. \nFancl shares closed 0.25% higher, the most since Aug. 28, at ¥2,795 a piece on Thursday, while Kirin gained 0.73%. \nWhen Kirin Holdings acquired about a third of Fancl’s shares in 2019, it had paid the founders ¥3,270 yen per share.\nThe deal saw three deadline extensions, with the last one necessitated by Japan’s takeover rules after a new sizeable shareholder was reported. Hedge fund MY.Alpha Management HK Advisors Ltd., which had gradually built its stake to about 10% in Fancl since Kirin made a bid, declined to comment on whether it had offered its share to Kirin.\n(Updates with details of intended transaction size in the fourth paragraph.)\n©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466240100"}