Kirin to Buy Fancl For $1.4 Billion in Shift Away From Beer

Kirin Holdings Co. will acquire Japanese skincare and cosmetics brand Fancl for around ¥220 billion ($1.39 billion) as part of an effort to reduce its reliance on beer.

The Japanese brew made an offer of ¥2,690 per share — a 40% premium on Fancl’s closing price of ¥1,916.5 on Tuesday, the day before the proposal was made — to acquire the two-thirds of shares that it doesn’t already own. It’s a 43% premium on Fancl’s Thursday closing price.

The acquisition will enable more “flexible and drastic measures” to integrate the two companies and maximize their corporate values, Kirin said in ...