CITIC Capital Partners Japan has acquired Japanese footwear company Akakura Co Ltd. No financial terms were disclosed.
(Tokyo, 20 October 2015) CITIC Capital Partners Japan (‘CCP’), the private equity arm of CITIC Capital Holdings Limited (’CITIC Capital’)is pleased to announce that the acquisition of footwear company Akakura Co., Ltd. (’Akakura’ or ’the Company’) has been completed.
Akakura is a Japan-based company engaging in the design and retailing of women footwear, selling through its directly-owned stores nationwide. Having been in the industry for over 60 years, Akakura has strong relationship with shoe wholesalers and developers of shopping malls and has been an industry leader. To cope with the need to improve the operation of Akakura’s business and support its expansion, CITIC Capital was elected as a sponsor to acquire the business of Akakura and lead the revitalization of the company.
Following the acquisition, CITIC Capital will continue to operate the 60 profitable stores, which are expected to grow further in the coming years. Mr. Masahiro YAMADA, a footwear industry specialist, has been appointed as the new CEO to lead the restructuring process. CITIC Capital will assist Akakura to capture the rise of consumer spending, emergence of the middle-class in China and the rapid growth of in-bound tourists into Japan, as well as enhance Akakura’s supply chain management.
CITIC Capital is also committed to working closely with Akakura’s management and employees to rebuild Akakura’s leadership in the women’s footwear industry and create long-term value to the Company.
Established : April 1953
Representative : Masahiro YAMADA, President (appointed as of 15 September 2015)
Head Office : 6-7-14 Minami-Aoyama, Minato-ku, Tokyo 107-0062 Japan
Website : http://www.akakura-inc.jp/
About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD4.6 billion of capital from a diverse group of international institutional investors. Core businesses include Private Equity, Real Estate, Structured Investment & Finance, Asset Management and Venture. CITIC Capital currently employs over 200 staff members throughout its offices in Hong Kong, Shanghai, Beijing, Tokyo and New York. For more information, please visit http://www.citiccapital.com/