(Bloomberg) -- Kirin Holdings Co. is looking to buy all of Fancl Corp. by the end of this year, as the Japanese brewer looks to grow through more acquisitions.

Most Read from Bloomberg

• How Americans Voted Their Way Into a Housing Crisis

• For Tenants, AI-Powered Screening Can Be a New Barrier to Housing

• After a Record Hot Summer, Pressure Grows for A/C Mandates

• Housing’s Worst Crisis in Decades Reverberates Through 2024 Race

• Chicago Halts Hiring as Deficit Tops $1 Billion Through 2025

The company aims to more than double its revenue from the health science division to 20% of total in about 10 years, its President and Chief Operating Officer Takeshi Minakata said in an interview. He was speaking after Kirin gained majority control of the skincare and supplement brand.

Growing the company’s current businesses, including Fancl, will be the “first priority” to boost revenue, he said, adding that there will be limitations to how much the current businesses can grow beyond a certain level.

“The rest will have to come from inorganic growth such as mergers and acquisitions,” Minakata said, adding that the company will be focusing on expansion in China and the Asia-Pacific. “That will eventually happen.”

Kirin Thursday said it gained control of 75.2% of Fancl after holders of 42.7% of shares accepted its ￥2,800-a-share offer ($19.65), according to an exchange filing. Before the takeover offer, Kirin already held 32.6% of Fancl.

“We are looking for a complete takeover of Fancl by the end of the year,” Minakata said.

The Fancl acquisition is in keeping with Kirin’s strategy to diversify into wellness and healthcare to boost revenue streams, amid declining sales of alcohol in a nation grappling with an aging population. Fancl will help strengthen Kirin’s health science business, along with Blackmores, the largest Australian health food company, which it acquired in 2023.

Kirin’s final offer for Fancl represented a ￥110 per share increase from its initial bid, and the company had intended to spend ￥230 billion on the transaction.

Fancl shares closed 0.25% higher, the most since Aug. 28, at ￥2,795 a piece on Thursday, while Kirin gained 0.73%.

When Kirin Holdings acquired about a third of Fancl’s shares in 2019, it had paid the founders ￥3,270 yen per share.

The deal saw three deadline extensions, with the last one necessitated by Japan’s takeover rules after a new sizeable shareholder was reported. Hedge fund MY.Alpha Management HK Advisors Ltd., which had gradually built its stake to about 10% in Fancl since Kirin made a bid, declined to comment on whether it had offered its share to Kirin.