TKP Corporation agreed to acquire 33.01% stake in Novarese, Inc. from Polaris Private Equity Fund III, L.P., Tiara Cg Private Equity Fund 2013, L.P., Polaris Capital Group Co., Ltd., Polaris CG Singapore Pte.Ltd. and Tiara Capital Group Limited for ¥3.1 billion.
June 20, 2024
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TKP Corporation (TSE:3479) agreed to acquire 33.01% stake in Novarese, Inc. (TSE:9160) from Polaris Private Equity Fund III, L.P., Tiara Cg Private Equity Fund 2013, L.P., Polaris Capital Group Co., Ltd., Polaris CG Singapore Pte.Ltd. and Tiara Capital Group Limited for ¥3.1 billion on June 21, 2024. A cash consideration of ¥3.13 billion valued at ¥380 per share will be paid by TKP Corporation. As part of consideration, ¥3.13 billion is paid towards common equity of Novarese, Inc.
The expected completion of the transaction is June 24, 2024.
Novarese Inc is a Japan-based company mainly engaged in the bridal business. The Company operates two business segments. The bridal business segment consists of three divisions. The wedding produce division provides customers planning a wedding ceremony and reception with all wedding related production services, including information on venues, planning of the day, and selection of wedding gifts and food. The wedding costume division operates dress stores nationwide and rents and sells wedding costumes. The restaurant division provides food and beverage for weddings and banquets, and some wedding facilities are open for lunch and dinner on weekdays. The restaurant specific business segment provides banquets and general food and drink.
TKP Corporation agreed to acquire 33.01% stake in Novarese, Inc. from Polaris Private Equity Fund III, L.P., Tiara Cg Private Equity Fund 2013, L.P., Polaris Capital Group Co., Ltd., Polaris CG Singapore Pte.Ltd. and Tiara Capital Group Limited for ¥3.1 billion.
NOVARESE, INC. 
