Kirin Holdings (TYO:2503) has entered into a definitive agreement to acquire Toronto-based Jamieson Wellness in an all-cash transaction valued at 218.3 billion yen, according to a regulatory filing in Tokyo on Friday.

The Japanese beverage maker will acquire all issued and outstanding common shares of Jamieson, totaling 41.5 million shares, at CA$45.75 apiece. The offer represents a 27% premium to the 20-day volume-weighted average price of the target company as of June 24.

Jamieson, a 104-year-old brand, manufactures, distributes and sells vitamins, minerals, and supplements mainly in North America.

In the second quarter, Jamieson reported CA$17.9 million in attributable net profit, up from CA$13.1 million a year earlier. Consolidated revenue jumped 17.4% to CA$233.8 million, with revenue growth in China topping forecasts following strong 6/18 promotional campaigns.

For Kirin, the acquisition marks an expansion into the North American market, said Kirin Chief Operating Officer Takeshi Minakata.

The deal is expected to be completed in October or later, subject to customary closing conditions.

Following the transaction, Jamieson will join Kirin's Health Science business. Jamieson will join Blackmores and FANCL, which Kirin also acquired in 2023 and 2024, respectively.

"Through these initiatives, Kirin has established a clear path to sustainable growth in Asia and Oceania and reached a stage where it can generate stable profits and cash flows," Kirin said.