Iglo owner buys Japanese sushi chain
The European private equity firm Permira has struck a deal to acquire a Japanese sushi restaurant chain, with plans to help it expand overseas.
The agreement values Akindo Sushiro, an Osaka-based operator of sushi bars in Japan, at roughly USD 1 billion including debt, Permira said in a statement. The private equity firm is buying a stake in Sushiro from Unison Capital, a Japanese rival.
The deal is among this year’s largest private equity transactions in Japan. In June, Bain Capital agreed to buy 50 percent of a Japanese TV shopping company, Jupiter Shop Channel, for more than USD 1 billion.
For Permira, the deal is a significant foray into Japan, following its 2008 acquisition of Arysta Lifescience, an agrichemical company, for about USD 2.2 billion.