Kirin Holdings has signed an agreement to acquire all of Jamieson Wellness Inc., Canada's largest vitamin and supplement maker by market share, for CAD45.75 a share in cash. The total price comes to CAD1,898mn, about ¥218.3bn at the exchange rate the companies used in their filing. Kirin's board and Jamieson Wellness's board both approved the deal, and the two sides signed an Arrangement Agreement on August 7.
The deal runs through a Plan of Arrangement, a mechanism under Canadian corporate law for taking a listed company fully private. It still needs sign-off from Jamieson Wellness shareholders, who must approve it by a two-thirds vote of shares cast, plus a court order confirming the arrangement. If those steps clear on schedule, Kirin expects to complete the purchase of all 41,490,939 outstanding shares, giving it 100% of the voting rights, from October 2026.
| Metric | Detail |
|---|---|
| Offer price per share | CAD 45.75 |
| Total deal value | CAD 1,898mn (about ¥218.3bn) |
| Shares to be acquired | 41,490,939 (100% of voting rights) |
| Transaction structure | Plan of Arrangement under Canadian corporate law |
| Shareholder approval needed | Two-thirds of votes cast |
| Expected completion | October 2026 or later |
Jamieson Wellness has been in business since 1922 and holds the top market position in Canada's vitamins, minerals and supplements category. Its largest disclosed shareholder is Mackenzie Financial Corporation, with 11.8% of the stock. In the year to December 2025 the company posted consolidated revenue of CAD822mn, operating profit of CAD118mn and net income attributable to shareholders of CAD62mn, all up from the prior two years. A 2022 purchase of Nutrawise Health & Beauty Corporation brought it the youtheory brand and a stronger US retail footprint alongside its home Canadian business.
For Kirin, the purchase extends a health science buildout that began in Asia and Oceania. The company has already folded in Australian supplement maker Blackmores and Japanese cosmetics and supplement group FANCL, and this year set up Kirin Health Science International to run shared brands, research and marketing across those businesses. Kirin says it has shifted from building that regional base to expanding into new growth markets, and picked North America, which it describes as the world's largest supplement market, as the next one. Management points to Jamieson Wellness's brand strength, distribution network and manufacturing chain as complements to Kirin's fermentation and biotechnology research, and expects savings from joint procurement and a combined sales network across the two companies' territories.
Kirin has not yet disclosed how the acquisition will affect its own earnings or financial position, saying only that it will announce the impact once details are finalized. The deal's completion still depends on the Jamieson Wellness shareholder vote and Canadian court approval that have not yet taken place.