FundComb
Estimated Control (100%) Announced Transaction verified CPGSupplementsVitaminsVitamins & Supplements

Blackmores acquired by Kirin

Kirin agreed to acquire Blackmores, an Australian vitamins & supplements brand, on Apr 26, 2023.

Transaction summary

Target
Blackmores
Acquirer
Kirin
Seller
-
Announced
2023-04-26
Geography
Australia
Tags
CPGSupplementsVitaminsVitamins & Supplements
Type
Acquisition
Deal type
Control
Stake acquired
100%
First added
2026-06-19
Latest update
2026-07-13

Value and multiples

100% enterprise value

USD 1.2B

100% enterprise value | USD

Basis: Public source

Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.

EV / revenue

2.9x

Period: varies by source

Basis: FundComb estimate

EV / EBITDA

23.1x

EBITDA basis not stated

Basis: Derived from source data

Basis

  • USD 1.2bn enterprise value is treated as publicly disclosed or derived directly from public source data.
  • Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
  • EV / revenue: 2.9x.
  • Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
  • EBITDA derived as enterprise value / EV/EBITDA = A$1,840,000,000 / 23.1 = A$79,653,680. EV source: https://smallcaps.com.au/article/blackmores-kirin-takeover-kogan-profitable-sales-soften-megaport-higher-ebitda. Multiple source: https://www.australianshareholders.com.au/wp-content/uploads/2023/08/BKL_SchemeMeeting_FY23.pdf

Other reviewed estimates

Transaction comps can involve reported or estimated figures from different sources. FundComb uses the values above as the current canonical comp, while preserving prior reviewed estimates below for context.

EBITDA multiple of 24.3x and EV/sales multiple of 2.9x are from the pasted VMS spreadsheet row, not confirmed in supplied public web evidence.
EV / revenue 2.9x | EV / EBITDA 24.3x

Source summary

Thorne HealthTech Schedule 14D-9/A

Estimated

Precedent transaction row lists implied TEV of $1,241m and TEV/LTM Adjusted EBITDA of 23.1x.

Open source

Blackmores sale to Kirin: Shareholders vote required

Estimated

Shareholder-vote note says the A$95 scheme consideration was fair and reasonable and equated to an acquisition multiple of 23.1x Blackmores EV/EBITDA for the 12 months to Dec. 2022. A separate public article reports the deal implied A$1.88bn equity value and A$1.84bn enterprise value.

Open source