3 Investment Funds To Sell Ex-Kanebo

According to Nikkei, Advantage Partners LLP, MKS Partners and Unison Capital Inc. reached a basic agreement with Hoyu Co., a Nagoya-based hair-dye maker, that they would sell a 60％ stake of Kracie Holdings (Ex-Kanebo), a manufacturer of consumer goods for about 25 billion yen (including its debt of 15 billion yen). Although Kracie has recovered well with the help of those funds, it needs a strategic partner to enter into its next growth stage. Hoyu Co. intends to expand its business from hair product lines to general household items. This club deal took place in January, 2006 and the company is expected to exit in a few years.