EQT invests Japan Home Centre
EQT Greater China II (EQT) a fund of EQT Partners, has acquired a 40% stake in leading discount houseware retail chain, Hong Kong-based Japan Home Centre (JHC), for an undisclosed amount.
Established in 1991, JHC is the largest discount houseware retail chain in Hong Kong with more than 200 directly-owned stores, plus some 80 overseas franchised stores in the Philippines, Malaysia, Dubai, Australia and Saudi Arabia. JHC made sales of more than $100 million in 2009. JHC sells a wide range of value-for-money products for home and living purposes.
The remaining 60% of the business will be still held by JHC’s founders, Peter Lau and Lisa Ngai. EQT and the founders plan to grow overseas markets, while further penetrating the Hong Kong market with new store openings as the company looks to improve margins.
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