By  on June 24, 2009

TOKYO — Kracie Holdings Ltd., a beauty company that was spun off from Kanebo, is set to be sold to hair color and care maker Hoyu for about 25 billion yen, or $261 million at current exchange, according to press reports here.

Hoyu said in a statement that nothing has been decided yet.

Tokyo-based Kracie has a wide-ranging business, including hair, body and skin care, plus a food and drugs division. Japanese private equity firms such as Advantage Partners Inc. own it.

Hoyu, of Nagoya, Japan, sells its products in more than 70 countries.

load comments
blog comments powered by Disqus