Supplements giant Blackmores agrees to $2 billion takeover by Japanese brewer
The Australian vitamin firm has struck an in-principle deal to sell to brewing giant Kirin
Japanese brewing giant Kirin has struck a deal to take over Australian vitamins company Blackmores.
Kirin Holdings announced on Thursday it had entered into an agreement with the ASX-listed Blackmores to buy out the company for $95 per share — valuing the company at $1.88 billion.
The deal has the endorsement of Blackmore’s board and its largest shareholder, Marcus Blackmore, whose father Maurice established the vitamins firm in 1932.
Mr Blackmore owns more than 3.5 million company shares, and according to the Australian Financial Review, could walk away with $340 million if the deal goes through.
