Kirin Holdings has agreed to buy Australian vitamin-maker Blackmores for 1.88 billion Australian dollars ($1.24 billion, ¥165.9 billion) in cash, as part of a push by the Japanese brewer into health products to reduce its reliance on beer.

Kirin won unanimous approval from the Australian company’s board with an offer of AU$95 per share, and Blackmores will pay shareholders an AU$3.34 special dividend. Altogether, the bid adds up to a 24% premium to Blackmores’ last closing price, the companies said in a statement Thursday. The shares surged 22% in early Sydney trading.

Kirin is expanding into health care as it sees increasing regulation of the alcoholic beverage industry. Kirin’s diversification away from beer stands in contrast to bigger rivals such as Anheuser-Busch InBev and Asahi Group Holdings, which are doubling down on alcohol and investing in higher-end businesses like craft beers.