Business | Nov 16

Bain Capital to buy Japanese clothing company Mash for $1.4bn

TOKYO, Nov 16 (Nikkei) - Bain Capital of the U.S. will acquire Japanese apparel maker Mash Holdings for about 200 billion yen ($1.4 billion) in what will be one of the largest private equity deals in the country's fashion industry, Nikkei has learned.

Bain will use its resources to help the Tokyo-based company expand overseas and improve management, with the aim of going public, according to sources.

Founded in 1998, the company's Gelato Pique brand pajamas and other items are popular with young people. The company also has other brands, such as women's casualwear Snidel, and Cosme Kitchen, which is a line of cosmetics made from natural materials.

The high valuation in the deal reflects strong sales in Mash's casualwear during the COVID-19 pandemic, as people stayed home. As life gradually returned to normal, the company is hoping that overseas expansion, with the help of the U.S. fund, will underpin future growth. ...continue reading

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