CVC Capital Partners Asia Fund V has signed a definitive agreement with Shiseido Company Limited to purchase Shiseido’s personal care business for $1.5 billion.
 
The new company, in which Shiseido will hold a 35% stake and CVC Asia V will acquire 65% as a joint venture, will obtain Shiseido’s portfolio of established global brands, including haircare brand Tsubaki and skincare label SENKA.
 
“We are delighted to be investing in some of Japan’s most trusted brands cultivated over the years by Shiseido. Further, we are excited to be partnering with Shiseido as we embark on this next chapter of growth,” said Atsushi Akaike, partner and co-head of CVC Japan.
 
“Using our global network and experience, CVC is committed to making these strong brands even better. Specifically, we see significant potential for growth by investing further in employees, brands, and R&D, as well as by driving digitalization and accelerating overseas expansion, with the possibility of going public in the future,” added Yukinori Sugiyama, partner and co-head of CVC Japan.
 
The transaction is expected to close by July 1, 2021 and is subject to customary closing conditions.