The company behind Kirin beer wants to acquire Blackmores for $1.9 billion.
👉 Background: Blackmores is the vitamins company that was established back in 1932 by naturopath Maurice Blackmore. In 1975, his son Marcus took over the biz and grew Blackmores into the number one vitamin brand in Australia.
👉 What happened: Kirin Corporation, the company behind Kirin beer, has offered to acquire Blackmores for $1.9 billion. Kirin runs a health science division... and they reckon Blackmores will slot in nicely there.
👉 What else: Most importantly, its largest shareholder, Marcus Blackmore as well as the board have all recommended that shareholders approve the offer.
💡Keep your customers close, but your majority shareholders closer.
💡 After Marcus Blackmore stepped down as CEO in 2020, he hasn't been too pleased with Blackmores' board. He reckons they’re making too many excuses for poor performances.
💡With Blackmores’ management constantly at war with its largest shareholder and founder, it has become somewhat untenable. So either Marcus Blackmore needs to support the board, become CEO again, or sell the company and be done with it. And it looks like the latter has won out.
Sign up for Flux and join 100,000 members of the Flux family
