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Kirin to Acquire Canadian Supplements Brand Jamieson Wellness; Shares Up 4%

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Kirin Holdings (TYO:2503) will acquire a 100% stake in Canada-based vitamins, minerals, and supplements company Jamieson Wellness, according to a Friday filing with the Tokyo bourse.

The Japanese beverage and pharmaceutical company will acquire about 41.5 million shares of Jamieson Wellness for 218.3 billion yen.

The acquisition supports the Japanese company's growth strategy for its health science business, specifically in North America.

The parties expect to complete the acquisition in the fourth quarter, subject to certain conditions, including approval from Jamieson Wellness shareholders, as well as court and regulatory approvals.

Shares of Kirin rose nearly 4% in recent trade.

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