Bain Capital has agreed to acquire Japanese logistics group Nissin Corp. in a management buyout valued at approximately JPY112bn (USD75m), as the sector continues to attract strong private equity interest amid structural headwinds, according to a report by Bloomberg.
Under the terms of the deal, Bain will purchase 13.85 million shares at JPY8,100 per share – a 51% premium to Nissin’s closing price on 9 May, prior to initial reports of the planned transaction. The tender offer is scheduled to run from 13 May through 8 July, according to a company filing.
Shares in Nissin surged 19% on Monday to hit the exchange’s daily limit, closing at JPY6,350. The stock has now gained 31% over the past two sessions on the back of deal speculation and confirmation.
The move to take Nissin private underscores growing private equity interest in Japan’s fragmented logistics market, which is undergoing rapid transformation due to regulatory shifts and labour constraints. New overtime limits for drivers have intensified pressure on the industry, spurring consolidation.
Recent activity in the space includes KKR-backed Logisteed’s acquisition of Alps Logistics, and SG Holdings’ completed tender offer for Chilled & Frozen Logistics Holdings.
