CLSA backs Japanese food and beverage maker

According to a release, the investment was made via Sunrise II, CLSA's second Japan-focused fund which reached a final close of $210 million last November.

CLSA said the business will be operated in cooperation with the company's representative director and top shareholder Souji Tanaka who will continue lead the management team along with the rest of the founding family.

Asamiya was established in 1951 as a tea manufacturing and marketing company. It expanded its range to include other food and beverage products such as mineral water, canned coffee, ice, soy sauce, and instant noodles, in later years. 

CLSA said Asamiya's strength lies in its focus on low-cost manufacturing achieved by operational efficiencies and value chain integration. The PE firm expects to grow the company by expanding its product lines across the country.

This represents CLSA's third investment from Sunrise II. The fund was launched at the start of 2012 and made its first investment 16 months later when it bought used-car auction site operator BCN from Chubu Motor Sales for $20 million.

Its other investment is a 54% stake in BayCurrent Consulting, an IT business process consulting firm, which was bought for $34.5 million in June last year.

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• Topics
• North Asia
• Expansion
• Consumer
• CLSA Capital Partners
• Growth capital
• Japan
• Consumer