Kirin to Acquire Jamieson Wellness in C$2.5 Billion Transaction

Jamieson Wellness Inc. (TSX: JWEL), a leading manufacturer of vitamins, minerals and supplements based in Toronto, Canada, has entered into a definitive agreement with Tokyo-based Kirin Holdings Company, which will acquire all of the issued and outstanding common shares of Jamieson at a price of C$45.75 per share. The all-cash transaction values Jamieson at approximately C$2.5 billion, or about USD$1.4 billion.

Jamieson, whose brands include Youtheory, Progressive, Iron Vegan, Smart Solutions, and Precision, will operate as a wholly-owned subsidiary of Kirin Holdings, whose global health science businesses include Blackmores, FANCL, and Kyowa.

“Today marks an exciting new chapter for our company and for our iconic 104-year-old brand,” said Mike Pilato, president and CEO of Jamieson Wellness. “I am incredibly proud that our business will continue to flourish globally under the stewardship of a company with an even longer history and a deep commitment to health and wellness.

In a statement, Kirin said it aims to become a global group that “creates a healthier future for the mental and physical well-being of consumers.” Under its 2035 Vision, Kirin continues to drive innovation through people and technology to create both social and economic value.

“As part of this strategy, we have positioned the Health Science business as a key driver of our medium- to long-term growth, and are committed to become the most trusted health science company, advancing health for more people across Asia, Oceania, and North America.”

“We are delighted to welcome Jamieson Wellness to the Kirin Group,” said Takeshi Minakata, COO of Kirin. “Kirin has deep respect for the company’s rich heritage, the trust it has built with consumers, and the values that have guided its success over generations. This transaction represents an important milestone in Kirin’s long-term growth strategy and a significant step in expanding our Health Science business into North America, the world’s largest vitamins and dietary supplements market. We look forward to supporting Jamieson Wellness’ continued success and creating sustainable value together for consumers, employees, shareholders, and communities.”

“From the beginning, it was clear that Kirin recognizes the importance of our heritage, our people, and our Canadian roots,” Pilato said. “Just as importantly, they are committed to investing in our brands. As a global C$22 billion leader in beverage, natural health, and consumer health, they bring the expertise, reach, and resources to help take our brands to the next level while preserving what has made Jamieson successful for more than a century.”

Tim Penner, chair of the board of Jamieson Wellness, said the board unanimously concluded that the deal represents the best path forward for Jamieson and its shareholders. “Throughout this process, our priority was to find a partner that not only recognized the significant value of our business and brands, but also shared our long-term commitment to our purpose and values, innovation, and responsible growth.”