Advantage to exit Japanese outdoor sports equipment retailer

The size of the transaction was not disclosed. Yodobashi said in a statement that it would purchase all of Advantage’s shares in the company and expected to assume 100% ownership through a tag-along by other investors.

Ishii will become an independently managed subsidiary of Yobodashi, with the new parent assisting in efforts to improve product and service offerings, including areas such as e-commerce, supply chains, and management systems. It will also drive new store openings, leveraging properties owned by Yobodashi.

The electronics retailer, which was founded in 1960, has 23 large format stores and approximately 5,000 employees, according to its website. Most of its outlets are in the Kanto region, which takes in Tokyo and Yokohama. Sales reached JPY680.5 billion ($6.1 billion) for the 12 months ended March 2018.

Advantage acquired Ishii with a view to supporting revenue growth through the professionalization of management and operations. The company started in 1950 as a distributor of footwear for mountain climbing and skiing. As of 2015, it had 32 stores and JPY13.7 billion in revenue. Ishii stocks popular brands such as The North Face and Nordica, along with its own label brands.

In addition to retail, the company offers related services such as equipment repair and training. It also promotes outdoor sports through its YouTube and social media channels.

Advantage invested in Ishii through its fifth Japan-focused mid-market buyout fund, which closed at the hard cap of JPY60 billion ($535 million) in April 2017. The first deal came in December 2015, shortly after the first close. 

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• Topics
• North Asia
• Consumer
• Trade sale
• Japan
• Advantage Partners