iSigma exits Japan's Sweet Style

Financial details were not disclosed. According to a statement, the transaction will be executed in April and allow Mitsuuroko, an energy sector operator, to expand its exposure to food markets. 

Founded in 1984, Sweet Style manages restaurants in Japan with a focus on confectionary goods and coffee. Its core brands are Motomachi Coffee and the bakery chain Azabujuban Mont-Thabor. It employs about 1,550 people, most of which are part-time workers. 

The company was acquired in full from domestic restaurant operator G Communication in 2009 for an undisclosed amount by the iSigma Business Support Fund, which closed the following year at JPY20 billion ($177 million). Value-add programs under iSigma ownership included re-engineering of the supply chain, development of high-end products and the establishment of a hand-made style central kitchen.

The GP also oversaw improvements in management control functions and the hiring of professional talent. Marketing efforts included the opening of stores in large shopping malls, although the company’s overall footprint declined from around 130 locations at the time of the acquisition to 116 outlets currently. 

Marubeni formed its first buyout fund in Japan with Advantage Partners in 1997. It established iSigma in 2000 as a venture fund manager before redirecting the GP into buyout activities in 2006.

Recent activity includes an agreement to sell automotive industry supplier Iino Manufacturing for JPY10 billion and the acquisitions of semiconductor equipment manufacturer Kyosemi.

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• Topics
• North Asia
• Consumer
• Trade sale
• Japan
• Exit