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Business deals

Gelato Pique parent rides COVID success to $1.4bn sale to Bain

Japan's Mash Holdings sets sights on overseas growth and a future IPO

Bain Capital will acquire Japanese apparel maker Mash Holdings, which owns the Gelato Pique brand, for about 200 billion yen. (Source photos by Yuki Kohara and courtesy of Mash Holdings)

TOKYO -- Bain Capital of the U.S. will acquire Japanese apparel maker Mash Holdings for about 200 billion yen ($1.4 billion) in what will be one of the largest private equity deals in the country's fashion industry, Nikkei has learned.

Bain will use its resources to help the Tokyo-based company expand overseas and improve management, with the aim of going public, according to sources.

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