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Business deals

Cozy fit: Beanbag chair maker Yogibo bought by Japanese distributor

Web-Shark looks to bring successful sales strategy to big developing markets

Japan is home to nearly 70% of Yogibo stores worldwide.

TOKYO -- Yogibo, an American company known for its beanbag furniture, has been acquired by the company distributing its products in Japan, one of its biggest markets.

Web-Shark bought the New Hampshire-based company in late December in a deal believed to be valued at more than 10 billion yen ($87 million).

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