The Longreach Group, the US$1.4 billion-under-management private equity firm with offices in Hong Kong and Tokyo, says it has acquired 100% stake of Japanese bridal ring specialty stores operator Primo Japan Inc. for an undisclosed amount from an affiliate of Baring Private Equity Asia, according to a company announcement.
Primo Japan specializes in the production and retail of semi-customized bridal jewelry, including engagement rings and wedding rings. The company operates three brands and has 76 stores in Japan, 10 in Taiwan, and two in Hong Kong.
Longreach plans to expand the business to other Asian markets, including in Mainland China.
Longreach focuses on buyouts in Japan and Greater China in the consumer related, mature industrial and technology, financial services, and business services sectors.