February 14, 2011

AP, CITIC Capital To Exit Shares In Pokka

Sapporo Holdings Limited, one of Japan's major brewers, announced that Sapporo has acquired shares of Pokka Co., a PE-backed beverage manufacturer, to make Pokka a consolidated subsidiary of Sapporo. Sapporo will increase its holdings in Pokka from 21.4% to 85.5%, purchasing from Advantage Partners, a Tokyo-based mega buyout firm, CITIC Capital, a PE unit of CITIC Group, and Meiji Seika Kaisya. Ltd., a leading confectionary manufacturer. Sapporo plans to beef up its soft drink business through this acquisition. Pokka went to private via MBO with AP and CITIC Capital in 2005.

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