CLSA buys Japanese toy maker

The private equity firm invested via its Sunrise Capital III fund, which closed in 2017 at $400 million with a view to acquiring Japanese companies with enterprise valuations of JPY5-15 billion ($46-137 million). The size of the transaction was not disclosed. Toshiko Kuwahara, Bloom’s founder, will retain a minority shareholding and continue to be involved in management and product development.

The company has been in business for more than 20 years, producing and distributing amusement-related goods and running its own specialty stores in Tokyo. The first squishies - which often take the form of animals and foods - were launched in 2002 under the Bloom and iBloom brands and have since gained international recognition. Often taking the form of animal characters and foods.

“We are committed to creating high-quality products with a loveable design. In order for these products to endure, we believe it is crucial to further enhance our organization, administrative functions and our design capabilities. We are pleased to expand our business through collaboration with Sunrise III, which has significant expertise in helping businesses to transform and expand overseas,” Kuwahara said in a statement.

The Sunrise funds target across sectors including consumer products, healthcare, retail, manufacturing, and logistics. Investments in the past 12 months include parking lot operator Ecolo Holdings, apartment rental agency business House Partner Holdings, online retailer Moa Group, and uniform rental business Marubeni Mates. There were also bolt-on acquisitions in the beauty salon and business process outsourcing spaces.

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• Topics
• North Asia
• Buyouts
• Consumer
• Japan
• CLSA Capital Partners