Advantage takes stake in Japanese eyewear chain - report
Japanese private equity firm Advantage Partners has reportedly acquired a stake in Tokyo-listed eyewear retail chain Meganesuper.
According to BrightTrust, Advantage took its stake through a private placement, and has agreed to provide a loan to the company as part of the deal. The Japanese site noted that Meganesuper has lost its edge in the market due to competition driving down prices. Further details of the deal were not reported.
Meganesuper launched in 1976 and has grown to own outlets across Japan.
Advantage has seen a steady stream of activity in 2011, including deals outside Japan. This investment comes two months after it committed approximately JPY1.5 billion ($19.7 million) to Hisense Broadband Multimedia Technologies (HBMT), a manufacturer of broadband multimedia consumer electronics. That transaction marked its second in China.
In June, Advantage also completed its takeover of GTA TeleGuam, Guam's leading telecom operator.
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