Japanese beverage giant Kirin Holdings Co. is set to acquire Canadian vitamins and supplements manufacturer Jamieson Wellness Inc. for approximately C$2 billion, which equates to $1.4 billion.

This strategic acquisition marks a significant expansion for Kirin into the rapidly growing global health and wellness market. Jamieson, a well-established brand with a strong presence in Canada and internationally, brings a portfolio of vitamins, minerals, and supplements known for their quality and efficacy. The deal is expected to leverage Kirin's global reach and Jamieson's specialized expertise in the nutraceutical sector.

The transaction, announced recently, is anticipated to close in the third quarter of 2022, subject to customary closing conditions and regulatory approvals. Kirin aims to accelerate Jamieson's growth by integrating its operations and expanding its distribution channels. This move underscores Kirin's commitment to diversifying its business beyond beverages and strengthening its position in high-value consumer health products. The acquisition is projected to enhance Kirin's revenue streams and contribute to its long-term growth strategy, solidifying its presence in the competitive health and wellness industry.