Bain Capital agrees to buy large Japanese restaurant chain
Bain Capital, a Boston-based private investment firm that has invested in several restaurant chains including Dunkin’ Donuts, said that it has agreed to buy Skylark Co. Ltd., Japanese family restaurant chain, from Nomura Principal Finance Co. and other investors.
In a press release, Bain Capital said the transaction has an equity value of about $2.1 billion.
Skylark operates more than 3,600 outlets in Japan and overseas under such names as Bamiyan, Gusto, and Jonathan’s as well as its flagship Skylark chain. Skylark has about $4.5 billion in annual revenues.
Bain Capital’s global experience in the restaurant industry includes investments in Burger King Corp.; Dunkin’ Brands, parent of Canton-based Dunkin’ Donuts; and Domino’s Pizza. Last year, Bain Capital acquired the master franchisee of Domino’s Pizza Inc. in Japan.
The Skylark transaction will draw on Bain Capital’s business experience in Japan as well as on its global experience in the restaurant industry, David Gross-Loh, a managing director at Bain Capital, said in a statement.
“We believe there are opportunities for Skylark to expand its customer base and drive growth with a focus on innovative menu development, new offerings, and new marketing approaches,’’ he said.
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