THE WHAT?  The Carlyle Group has initiated the sale of Tokiwa Corp, a Japanese cosmetics supplier, with the potential deal valuing the company at US$800 million. Tokiwa, boasting a 75-year history and an expected EBITDA of US$50 million, is attracting bids from private equity and cosmetics firms.

THE DETAILS  Tokiwa seeks a sale price that could exceed its US$800 million valuation, with Carlyle looking to capitalize on its investment aimed at international expansion since 2019. The sale is advised by Jefferies and SMBC Nikko Securities, highlighting the strategic move by Carlyle to navigate its investment portfolio.

THE WHY?  Carlyle’s investment in Tokiwa aimed to bolster the company’s international market presence, recognizing its pivotal role in the cosmetics industry and employing over 800 people globally. This sale is part of Carlyle’s broader strategy in Japan, marking its ongoing engagement in the market through significant investments over the past two decades.