May 29, 2014

Carlyle Investes In A Japanese Snack Maker, Oyatsu

Carlyle Japan has announced that it has acquired a stake in Oyatsu Co., the 65-year-old Japanese maker of crispy snacks, from Carlyle Japan Partners III fund.

According to Bloomberg "Carlyle may pay at least 25 billion yen ($246 million) for Oyatsu,  whereas Nikkei reported "Carlyle is expected to pay around 20 billion yen ($194 million) to acquire over 51% of voting rights in Oyatsu Company".

Oyatsu is best known for its Baby Star snack, which is made from the byproducts of manufacturing noodles. The company posted sales of JPY 18.2 billion in the year through July 31. Oyatsu has 370 employees and exports the snack to Hong Kong, Taiwan, Thailand and Singapore and Mexico. According its press release, Oyastu aims to develop its overseas business capitalizing on Carlyle's global network.  

Bloomberg also reported that Carlyle and Unison "plan to sell semiconductor-parts maker Covalent Materials Corp., people with knowledge of the matter said earlier this month. The two firms are preparing an auction for the proposed sale of Tokyo-based Covalent and are seeking to sell it for about 50 billion yen."