TOKYO -- U.S. buyout specialist Carlyle Group will acquire a leading Japanese contract producer of health food, Sunsho Pharmaceutical.
Sunsho will sell all of its shares to Carlyle coinciding with the retirement of Takashi Kondo, the company's founder, chairman and chief executive officer. The value of the deal has not been disclosed.
Founded in 1993, Sunsho makes dietary health foods on a contract basis and has the second-largest market share in the field. In 2013, it booked 16.9 billion yen ($164 million) in sales.
The Japanese company hopes that Carlyle's experience investing in large U.S. health food producers will help accelerate its expansion abroad.