Ito En Ltd has agreed to acquire Chichiyasu K.K. from K.K. J-Will Partners, a leading Japanese private equity firm. The transaction is expected to close by the end of May. BDA advised J-Will Partners on the divestment process and strategy with respect to international parties.<\/p>\n
Chichiyasu is a dairy and yogurt manufacturer based in Hiroshima, Japan. The company was established in 1886 and in 1917 became the first Japanese company to produce and sell yogurt in the domestic market. Chichiyasu markets its yogurt and dairy products nationwide under its own widely recognized brand. The company is well known for its traditional yogurt products as well as its functional yogurt products which offer the benefits of added dietary fibre, iron, calcium and others.<\/p>\n
Ito En will buy the stock in Chichiyasu from funds managed by J-Will Partners. It plans to sell Chichiyasu\u2019s dairy products through its sales network, and expects the joint development of milk-based drinks will supplement its existing business. Ito En, renowned for its green tea Oi Ocha beverage, ranks third in the Japanese non-alcoholic beverage industry. It posted sales of JPY333 billion (US$4.1bn) in the year ended April 2010.<\/p>\n
BDA Deal Team <\/strong>
\nAndrew Huntley, Senior Managing Director, London
\nJeff Acton, Managing Director, Tokyo
\nJeffrey Wang, Managing Director, Shanghai
\nLydia Xu, Director, Shanghai
\nAlicia Cao, Analyst, Shanghai
\nToshiaki Yokohara, Senior Associate, Tokyo
\nLi Xiang, Analyst, Shanghai<\/p>\n