CONTACT US

Investor relations
Chris Davison
Head of Investor Relations
+44 20 7632 1000
investor.relations@permira.com
Human resources
Caroline Carr
Chief Human Resources Officer
+44 20 7632 1000
human.resources@permira.com
Communications
Noémie de Andia
Head of Communications
+44 20 7632 1000
media@permira.com
Marketing
Denise Gallagher
Marketing Manager
+44 20 7632 1000
marketing@permira.com
Permira Holdings Limited
Alistair Boyle
Guernsey
+44 1481 743200
Permira Debt Managers
James Greenwood
CEO
+44 2076321000

OUR OFFICES

CEIL, backed by the Permira funds, to sell its 33% stake in Sushiro to Shinmei

29th September 2017

Permira, the global investment firm, announced today that Consumer Equity Investments Limited (“CEIL”), a company backed by the Permira funds, has entered into a definitive agreement to sell its approximately 33% in Sushiro Global Holdings Ltd. (“Sushiro”, TSE: 3563) to Shinmei Co., Ltd. (“Shinmei”), a leading rice wholesaler in Japan and the parent company of Genki Sushi Co. Ltd. (“Genki”, TSE: 9828), at a price of JPY 4,000 per share and total consideration of approximately JPY 38.0 billion. Simultaneously, Shinmei, Sushiro and Genki have entered a Business Alliance Agreement where the parties initiate the discussion for the potential integration of Sushiro and Genki, subject to the respective shareholders’ approval.

Sushiro was acquired by CEIL in September 2012 and was listed on the 1st Section of the Tokyo Stock Exchange in March 2017 at a price of JPY 3,600 per share. Under CEIL’s ownership, Sushiro enjoyed strong growth as a result of the successful implementation of a number of successful initiatives including:

  • the recruitment of a new leadership team with global experience including a new Chairman, CEO and CFO;
  • the revamp of the menu including higher quality products to satisfy unmet customer needs;
  • the enhancement of its digital marketing and introduction of new CRM systems;
  • the strengthening of its store development team leading to 130+ new store openings from 336 stores as of September 2012 and the introduction of a new urban store concept;
  • the improvement of the efficiency of its store operations through lean production projects.

Ryo Fujii, Head of Japan at Permira, said: “Sushiro is an outstanding business with a mission of providing good quality sushi at an affordable price while preserving its outstanding customer focus. This is a prime example of supporting fast-growing brands in the consumer space. Over the course of the CEIL ownership, the company has transformed into a best-in-class leader, with an enhanced focus on innovation and new product development and an expanded footprint. We wish Sushiro’s continuous success with their new strategic partners Shinmei and Genki.”

John Turner, chairman of CEIL commented: "We are delighted with the success of Sushiro under CEIL’s ownership, prior to its listing on the TSE earlier this year, and believe that Shinmei is a strategically well-placed shareholder to work with the company on its next phase of growth and help further enhance its market leading position in Japan and globally.”

Koichi Mizutome, President and CEO of Sushiro, said: “This has been an incredibly successful partnership with CEIL over the last five years. The shareholders have been instrumental in our growth and improvement of sustainable competitiveness; enabling us to make great strides in driving various growth and improvement initiatives. We look forward to further expanding Sushiro in Japan and globally leveraging the new business alliance with Shinmei Group including integration with Genki.”

Nomura Securities acted as financial adviser and Nagashima Ohno & Tsunematsu acted as legal adviser to CEIL.

The transaction is expected to close by the end of the fourth quarter, subject to customary closing conditions, including antitrust.



Download PDF version

Related content

Tilney Group appoints Chris Woodhouse as CEO
3rd October 2017
Permira Funds Complete Acquisition of LSNE
28th April 2017
Permira Funds to Acquire LSNE
27th March 2017
Pedro Lopez de Guzman appointed Head of Spain
7th November 2016
Permira promotes Dipan Patel to partner
1st February 2016
Informatica Announces Executive Appointments
12th January 2016
eDreams ODIGEO half year results to 30 September 2015
24th November 2015
The Permira Funds complete acquisition of certain EBAY Enterprise divisions
2nd November 2015
Permira Appoints Adinah Shackleton as first Head of ESG
2nd September 2015
Permira Acquires IBSL, focused on clinical engineering, through Pantheon Group
29th July 2015
Final close of Permira Credit Solutions II
29th July 2015
Sterling Partners and Permira Funds to acquire eBay Enterprise
16th July 2015
Permira appoints new Japanese Chairman and Head of Japan
15th July 2015
Permira Funds to acquire Medora Snacks and Ideal Snacks
9th June 2015
Permira Funds to acquire Vacalians Group
22nd May 2015
Permira Credit Solutions II acts as sole lender to Kinaxia Logistics
19th May 2015
Acquisition of GFKL
18th May 2015
Permira IV exits Hugo Boss after over 7 years of successful partnership
17th March 2015
Saga and Tilney Bestinvest create financial planning service for UK’s over 50s
15th January 2015
The Permira Funds back management in Teraco buyout
4th December 2014
Mesa Group acquires Spintech in Turkey
28th November 2014
Mesa Group acquires Spintech in Turkey
28th November 2014
Permira Funds to acquire Metalogix
30th October 2014
Permira Investor Relations Team update
10th October 2014
Social Business Trust releases its latest Impact Report
16th September 2014
MESA continues European expansion with acquisition of MVS
12th September 2014
MESA and Asteral to combine
1st August 2014
Permira closes Permira V at €5.3 billion
12th June 2014
Brian Ruder appointed co-head of Permira’s TMT sector team
29th May 2014
Permira appoints Roberto Biondi as Head of the Financing Group
28th May 2014
Discovery Communications and Liberty Global to acquire All3Media
8th May 2014
Permira funds to acquire leading software firm TeamViewer from GFI Software
6th May 2014
Permira Funds acquire more than $200m of LegalZoom equity
14th February 2014
Final share sale of ProSiebenSat.1 Media
16th January 2014
Permira funds expected to acquire more than $200 million LegalZoom equity
6th January 2014
ProSiebenSat.1 increases revenues and earnings in Q3 of 2013
11th November 2013
Bestinvest acquired by the Permira Funds
6th November 2013
Permira releases its 2012 annual review
13th August 2013
ProSiebenSat.1 Q2 2013 results
1st August 2013
ProSiebenSat.1 reports Q1 2013 results
7th May 2013
Permira funds acquire leading aquatic health group PHARMAQ
30th March 2013
ProSiebenSat.1 sets new revenue and earnings record in 2012
26th February 2013
Social Business Trust invests £250,000 in the Shakespeare Schools Festival
21st February 2013
Jörg Rockenhäuser is interviewed in PEI’s responsible investment special
5th February 2013
TDC announces new strategy for 2013-2015
5th February 2013