Japanese brewer Kirin looks to expand past beer industry with purchase of stake in cosmetics firm Fancl

Japanese brewer Kirin looks to expand past beer industry with purchase of stake in cosmetics firm Fancl

Japanese brewer Kirin has acquired a 30.3 percent stake in cosmetics company Fancl for $1.2 billion, a move which is said to help the company expand past the beer market as it shrinks worldwide.

Fancl, which sells preservative-free cosmetics and supplements, is set to accelerate the company’s expansion into areas other than beer as Kirin looks to industries such as health food supplements and beverages.

As Japan’s second biggest brewer, the company has implemented a strategy of selling off underperforming overseas assets.

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