PEP, Unitas exit Independent Liquor to Asahi
Pacific Equity Partners (PEP) and Unitas Capital last week agreed to sell New Zealand beverage firm Independent Liquor to Japan’s Asahi Group for NZ$1.525 billion ($1.27 billion). The private equity firms secured a 1.5x return on their original NZ$1.2 billion investment made in 2006. Given the challenges Independent Liquor has faced during their tenure, the exit multiple might be seen as a victory.
According to sources familiar with the situation, PEP and Unitas wanted a partner to provide fresh capital, but received sufficient interest from prospective buyers that they opted for a full exit. It's...
More on Exits
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.