Global investment firm The Carlyle Group signed an agreement to sell full ownership in Meisui Bijin Factory Co., Ltd., one of the leading bean sprouts manufacturers in Japan, to Shinmei Holdings Co., Ltd., a market leader with core business operations in rice wholesale, on 27th February, 2020.
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Carlyle invested in Meisui Bijin Factory in March 2016 through Carlyle Japan Partners III, L.P., an investment fund advised by Carlyle Japan L.L.C. Carlyle has since helped the company drive a strategic transformation that has built the foundations for long-term sustainable growth.
Carlyle leveraged its deep sector expertise and operational capabilities to develop a new management structure within Meisui Bijin Factory; start a new factory to establish and scale-up Meisui Bijin Factory’s pre-cut vegetable business; strengthen the company’s leading market position in bean sprouts through bolstering marketing and sales capabilities; and to rebuild Meisui Bijin Factory’s missions and vision. Carlyle will now be transitioning full ownership to Shinmei where significant business synergies exist to support Meisui Bijin Factory’s next phase of growth.
Yusuke Watanabe, Managing Director of the Carlyle Japan advisory team, said “We have been delighted to partner with Meisui Bijin Factory over the past four years, and feel great pride on the transformation and resulting value creation that we have collectively achieved within the business. We believe Meisui Bijin Factory’s new partnership with Shinmei will help the company to further build on its position as the leading bean sprouts and pre-cut vegetables business in Japan.”
Jiro Wakasa, President and Representative Director at Meisui Bijin Factory, commented “We at Meisui Bijin Factory would like to thank Carlyle for enabling us to achieve a period of such significant growth, and for their dedication to our mission to contribute to the everyday health and wellbeing of our customers. We welcome the new partnership with Shinmei, whose strong network of consumer and retail businesses will be invaluable as we continue to expand our business and develop our product offering.”
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. is acting as an exclusive financial advisor to Carlyle, while Nishimura & Asahi is acting as legal advisor.