J-Star exit sees 3x return on Olive des Olive exit

The sale follows a three year holding period during which Olive des Olive, which makes branded apparel for young women, boosted its presence in China by more than trebling its store count to 116. The company also supported sales through launching an online business. 

J-Star purchased the company from creditors in May 2009 at 5x EBITDA, shortly after parent company Moku desu Moku filed for bankruptcy. Olive des Olive has seen its revenue increased by more than 50% to JPY9 billion and its EBITDA triple to JPY600 million.

"We see Takisada- Osaka as an ideal new business partner for Olive des Olive," said Gregory Hara, president of J-Star. "The company is not only highly regarded in Japan but also has a strategy to shift its business focus to brand apparel as well as grow in emerging countries, so the relationship is very complimentary."

This is J-Star's fourth exit from its first fund with three of these exits taking place in the last year, all to strategic buyers. In September, the PE firm exited lifestyle marketing company Iki Iki to a subsidiary of Noritsu Koki group, while in October it sold pharma contract sales firm Apo Plus Station to Qol, a Tokyo-based pharmaceutical company.

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• Topics
• Exits
• Consumer
• Buyout
• North Asia
• Japan
• J-Star
• Exit
• Consumer