Jamieson Wellness products at a pharmacy in Toronto in February, 2020.Aaron Vincent Elkaim/The Globe and Mail
Vitamin company Jamieson Wellness Inc. JWEL-T says it has entered into an agreement to be acquired by Kirin Holdings Co. KNBWY in an all-cash deal valued at $2.5-billion.
Under the terms of the deal, Kirin will acquire all of the issued and outstanding common shares of Jamieson Wellness at a price of $45.75 per share.
The transaction remains subject to a shareholder vote, expected to be held in September, as well as court and regulatory approvals.
The deal is expected to be completed in the fourth quarter.
Jamieson Wellness CEO Mike Pilato says Kirin brings expertise, reach and resources that could help take its brands to the next level.
In June, Jamieson announced it was in talks after receiving an unsolicited offer to buy the company.