Global investment firm KKR has agreed to acquire Japanese beauty and lifestyle brand platform Ci FLAVORS from private equity company L Catterton, its founder, and other shareholders, for an undisclosed amount.
In a statement, KKR said funds it manages will acquire the company from all existing shareholders, including founder Yusaku Horiuchi, eBeauty Group, and Yanagi Capital Partners.
Horiuchi and Ci FLAVORS chief executive Yoshiaki Okura will reinvest alongside KKR as part of the transaction, the statement said, without providing details of their stakes.
KKR is making the investment through its flagship Asia-Pacific private equity strategy.
Founded in 2011, Ci FLAVORS operates a portfolio of haircare, skincare, body care and lifestyle brands, including &honey, 8 THE THALASSO, unlabel, THERATIS, and MOROCCAN BEAUTY.
Its businesses span brand sales, original equipment manufacturing, direct-to-consumer and e-commerce channels, department-store retail, and the global procurement of ingredients and materials.
The company has established a presence in Japan’s shampoo and hair-treatment market and expanded its overseas sales, particularly in Asia and North America.
KKR plans to use its consumer-sector network and operational expertise to support Ci FLAVORS’ domestic growth and international expansion, said Eiji Yatagawa, the investment firm’s partner and head of Japan private equity.
Ci FLAVORS will pursue further growth through international and category expansion, talent development, organisational improvements and strategic acquisitions, Okura said.
L Catterton invested in Ci FLAVORS in 2022, betting that the Japanese company’s product-development capabilities and strength in key sales channels would support its domestic and overseas expansion.
“The company has achieved that through strategic planning and disciplined execution,” said Taka Shimizu, a managing partner at L Catterton.
The deal adds to KKR’s investments in consumer, beauty and lifestyle companies, including haircare group Wella Company, beauty and wellness platform Fresha, Japanese supermarket chain Seiyu, India’s Vini Cosmetics, and Singapore-based V3 Group, the owner of TWG Tea and Bacha Coffee.
