Nippon Investment acquires Japan wine brand
Japanese private equity firm Nippon Investment Corporation (NIC) has acquired the local subsidiary of Germany-based winemaker and distributor Pieroth for an undisclosed sum.
Established in 1969, Pieroth Japan was the first foreign wine import business in Japan. It is primarily known for marketing exclusive wines, sparkling wines, champagnes, and spirits for global, mostly European, winemakers. It also makes a range of original label wines.
Operations also include a network of branded bars and lounges across Japan. Several of these are in airports. Group sales totaled EUR80 million ($95.5 million) in the 2020 financial year. The company will retain the Pieroth name as an independent entity.
NIC was founded in 2017 by Soichi Yamaguchi and Hidetoshi Akisato, both formerly of Bain Capital, and Shuhei Yamashita, founder and chairman of Tokyo-listed logistics technology services provider CRE. It invests in mid-sized companies locally with a preference for consumer-oriented models and a view to driving growth with a hands-on management style.
Previous investments include nursing home operator Nexus Care, hot springs hospitality group Yukai Resort, restaurant manager Sangue, and eyewear brand Kaneko Optical. It also acquired home remodelling and plumbing services provider Qracian from Orix in 2019 for JPY30 billion ($270 million) and last year backed Izumigo Hotels & Resorts, which specializes in luxury rural cottages.
Gleiss Lutz advised NIC on the latest acquisition, while Ashurst advised Pieroth.
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