Caryle, CVC, Unison among Q’sai bidders – sources

By Wakako Sato and Junko Fujita

TOKYO, April 15 (BestGrowthStock) – Carlyle Group [CYL.UL], CVC
Capital and Unison Capital are among the bidders for vegetable
juice maker Q’sai Co, three sources said, in what could rank as
the largest private equity deal in Japan so far this year.

Daiwa SMBC Capital, which bought Q’sai in 2006 for about 60
billion yen ($644 million) in a management buyout, has started
soliciting offers for the company in an initial round of bidding
this week.

Private equity firms Carlyle Group, Unison Capital, MBK and
Advantage Partners have all entered initial bids, three sources
with knowledge of the transaction said. They spoke on condition
of anonymity because the deal is not yet public.

None of the bidders were available for comment.

Q’sai’s main product is a green juice called “aojiru” that is
made from kale, a leafy vegetable known to be high in nutrients.
The company also sells supplements and soap and cream containing
collagen, and booked 28.7 billion yen in sales in the financial
year that ended in October 2009.

Assuming Daiwa SMBC is able to sell Q’sai at a profit, it
would become Japan’s largest private equity transaction since
November, when Bain Capital agreed to buy telemarketer
Bellsystem24 from Citigroup Inc (C.N: ) for about $1 billion.

Daiwa SMBC Capital, a joint venture between Daiwa Securities
(8601.T: ) and Sumitomo Mitsui Financial Group (8316.T: ), has hired
the investment banking arm of Daiwa Securities, as a financial
advisor, other sources have told Reuters. [ID:nTKF106917]

Daiwa SMBC Capital could not be reached for comment.

Investing Basics

(Editing by Nathan Layne)

Caryle, CVC, Unison among Q’sai bidders – sources