Daiwa SMBC Capital selling juice maker Q’sai-sources

By Wakako Sato and Junko Fujita

TOKYO, April 14 (BestGrowthStock) – Japanese private equity firm
Daiwa SMBC Capital has put vegetable juice maker Q’sai Co up for
sale in what could become Japan’s largest buyout so far this
year, four people familiar with the deal said.

Daiwa SMBC Capital, a joint venture between Daiwa Securities
(8601.T: ) and Sumitomo Mitsui Financial Group (8316.T: ), bought the
company in 2006 for about 60 billion yen ($644 million) in a
management buyout.

The private equity firm is now eager to exit its investment
and is soliciting offers. The first round of bidding is due to
close this week, according to the sources, who were not
authorised to speak publicly about the deal.

Assuming Daiwa SMBC is able to sell Q’sai at a profit, it
would mark 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.

Q’sai’s main product is a green juice called “aojiru” that is
made from kale, a leafy green vegetable known to be high in
nutrients. The company also sells supplements and soap and cream
containing collagen.

A spokesman for Q’sai declined to comment. A spokesman for
Daiwa Securities said nothing had been decided.

Q’sai is based in Fukuoka, southern Japan. It booked 28.7
billion yen in sales in the financial year that ended in October
2009.

Daiwa Securities Capital Markets, the investment banking arm
of Daiwa Securities, is advising the seller, the sources said.

Stock Basics

(Reporting by Wakako Sato and Junko Fujita; Editing by Hugh
Lawson)

Daiwa SMBC Capital selling juice maker Q’sai-sources