Today, Kirin Holding Company, Limited has successfully completed its tender offer to make FANCL Corporation a wholly-owned subsidiary with transaction value of 230 billion yen. The tender offer, initiated on June 17, 2024, aimed to acquire sufficient shares to consolidate FANCL under Kirin Holdings. Kirin managed to acquire 51,946,863 shares, surpassing the required minimum of 41,117,700 shares, bringing its total ownership of FANCL to 75.24%, including the shares previously held. The acquisition will be finalized after additional procedures, such as a reverse stock split at FANCL’s shareholders’ meeting.
Kirin Holdings views this acquisition as a significant step towards enhancing FANCL’s growth potential. President and COO Takeshi Minakata emphasized the potential synergies between the two companies, which will help deliver more value to consumers in Japan and overseas. Kirin is also working towards becoming a major player in the health science sector in the Asia-Pacific region, alongside its Australian brand, Blackmores.
FANCL’s President and CEO, Kazuyuki Shimada, expressed confidence in the strengthened alliance, reflecting on the synergies already achieved since the two companies’ partnership began in 2019. With this acquisition, FANCL anticipates accelerated growth and global market expansion, particularly through collaboration with Blackmores.
Alastair Symington, CEO of Blackmores, endorsed the deal, noting that it will bolster Kirin’s vision of becoming a major health science player in the Asia-Pacific. The combined expertise of Kirin, FANCL, and Blackmores promises to provide innovative health solutions based on their respective strengths.
According to Fancl Group’s latest financial report, in the second quarter of fiscal year 2024, Fancl’s net sales reached 26 billion yen, a year-on-year decrease of 4.1%. Specifically looking at the cosmetics business, Fancl Group’s main cosmetics brands currently include FANCL, ATTENIR, and boscia. Among them, the net sales of the Fancl brand reached 10.679 billion yen, a year-on-year decrease of 4.2%.
