MBK Partners Lists Tasaki Jewelers for Sale Priced at $500 Million

As per three individuals familiar with the matter, Tasaki, a Japanese jewelry brand, is up for sale by MBK Partners, a private equity firm focused on North Asia. This deal has the potential to value Tasaki at over $500 million. Two sources have confirmed that investment bank Daiwa Securities has been hired by MBK to oversee the ongoing sale, now in its second round. The information was deemed confidential, therefore, all three sources opted to remain anonymous. According to two sources, they have also reached out to several private equity firms with the intention of selling them the brand. Tasaki refused to provide any confirmation regarding the sale.

Tasaki, a Kobe-based company established in 1954, is widely recognized for its exquisite pearl jewelry. With a vast presence, Tasaki currently operates more than 100 retail stores in Japan, as well as across Asia and Europe. In 2017, MBK decided to take the company private through a 31.5 billion yen ($209.5 million) buyout. The objective was to enhance decision-making efficiency and facilitate expansion beyond Japan.

The buyout came nearly a decade after a 7 billion yen capital injection by MBK saved Tasaki from a crisis caused by intense competition with cheap Chinese pearls. The investment resulted in huge returns when MBK exited in 2015.

MBK has invested in a number of Japanese companies, including Godiva Japan and nursing care provider Tsukui Holdings.