Advantage Partners portfolio company sells Red Lobster
REINS International Inc., a food chain operator in Tokyo fully owned by Rex Holdings, has sold 100% stake in Red Lobster Japan Co., Ltd., to CELUX Inc., a food business producer and food chain operator based in , Japan.
Rex Holding is 92% controlled by Japan's buyout firm Advantage Partners since December 2006.
REINS did not disclose the acquisition size or details for the decision of divestment. REINS purchased Red Lobster Japan from Aeon Co., the Japanese food retail giant in 2002. Prior to Red Lobster, Advantage's Rex Holding put high-market supermarket chain operator Seijyo Ishii for sale in December last year. Private equity firms such as Bain Capital and Marunouchi Capital have emerged as potential bidders. No final bidder has been named, but is likely to be finalized within the month.
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