KUALA LUMPUR, Nov 12 (Bernama) – A Japanese eyewear brand, OWNDAYS Inc has entered into an agreement with L Catterton Asia (LCA) and Mitsui & Co., Principal Investments Ltd (MCPI) on third-party allocation of shares amounting to three billion yen. (100 yen = RM3.67)
Under the agreement, partial transfer of shares will also be held by the OWNDAYS’ current management team. According to a statement, this is the first investment in a Japanese company for LCA.
The management team led by the President and Chief Executive Officer, Shuji Tanaka will continue to hold a substantial stake to manage the company.
The eyewear brand with currently 275 stores globally aims to become the leading optical retail player both in Japan and across Asia with over 500 stores in the next five years.
With over US$15 billion of equity capital across six fund strategies in 17 offices worldwide, LCA is the largest and most global consumer-focused private equity firm in the world.
Established in May 2003, MCPI is a private equity arm backed by Mitsui & Co. group. It makes private equity investments in Japan and abroad, providing managerial support to increase corporate value.
-- BERNAMA
-- BERNAMA
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