Bain Capital has agreed a JPY100 billion deal to acquire Japanese apparel maker Mash Holdings in one of the largest private equity deals in the country’s fashion industry, according to a report by Nikkei.
Bain Capital has agreed a JPY100 billion ($1.4bn) deal to acquire Japanese apparel maker Mash Holdings in one of the largest private equity deals in the country’s fashion industry, according to a report by Nikkei.
The report cites unnamed sources as saying that Bain will look to help the Tokyo-based firm expand internationally and improve its management, with the ultimate aim of completing a public listing.
Founded in 1998, Mash Holdings’ popular brands include Gelato Pique pyjamas and women’s casualwear line Snidel, and Cosme Kitchen, a line of cosmetics made from natural materials.
Bain Capital will reportedly acquire 100% of Mash’s shares, including those of founder and President Hiroyuki Kondo who will remain in his role following the completion pf the acquisition reinvest in a stake of around 40% of the company.
Operating profit for the last fiscal year was 9.8 billion yen, with a profit margin of nearly 10%, double the industry average of about 5%. It had 646 stores at the end of August, including in China, Hong Kong, Taiwan, the U.S. and New Zealand.
