Jiji Press TOKYO (Jiji Press) — Kirin Holdings Co. has said it will acquire a 33 percent stake in Fancl Corp. in terms of voting rights to become the top shareholder of the Japanese cosmetics and dietary supplement maker.
The Japanese beverage group will spend ¥129.3 billion to acquire almost all Fancl shares held by its founding family, including Chairman Kenji Ikemori, on Sept. 6.
The move comes as Kirin is working to expand its health care business, including supplements, in addition to its mainstay beverage and pharmaceutical operations.
Kirin aims to develop supplements, skin care products and other items with Fancl.
Speaking at a press conference in Tokyo, Kirin President and Chief Executive Officer Yoshinori Isozaki said the tie-up “will help to accelerate its growth.”