Kamei Corporation acquired Wanoba Group, Inc. from Watanabe Family Trust, Bruce R. Bailey, Masayuki Nozue, and Kazuhiko Hori for $27.8 million.
December 26, 2012 at 11:00 pm EST
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Kamei Corporation (TSE:8037) acquired Wanoba Group, Inc. from Watanabe Family Trust, Bruce R. Bailey, Masayuki Nozue, and Kazuhiko Hori for $27.8 million on December 21, 2012. Kamei Corporation acquired 1,000 shares of Wanoba Group. Watanabe Family Trust sold 40.0% stake, Bruce R. Bailey sold 32.5% stake, Masayuki Nozue sold 20.0% stake, and Kazuhiko Hori sold 7.5% stake. Kamei Corporation will operate Wanoba Group as its wholly owned subsidiary. For the year ended December 2011, Wanoba Group had net assets of $0.06 million, total assets of $0.15 million, sales of $1.6 million, operating profit $1.11 million, current profit of $1.1 million, and net income $1.08 million. As part of the transaction, Kamei will retain Mitsuwa's management team. NORGESTION acted as financial advisor for Kamei.
Kamei Corporation (TSE:8037) completed the acquisition of Wanoba Group, Inc. from Watanabe Family Trust, Bruce R. Bailey, Masayuki Nozue, and Kazuhiko Hori on December 21, 2012.
KAMEI CORPORATION is engaged in the energy business. Energy segment distributes gasoline, kerosene, light oil, heavy oil and liquefied petroleum gas. Food segment distributes beer and wine products, and operates supermarkets. Housing segment distributes housing appliances and equipment, and operates renovation business. Automobile segment distributes domestic and imported cars, and operates car leasing. Overseas and Trading business segment exports tires, bearings and tanker planes, and imports and sells seafood, apparel products, beer and wine. Pet segment sells pet food, pet supplies and gardening supplies. Pharmacy segment operates dispensaries, and distributes drugs. The Others segment provides information equipment and office supplies, property leasing, insurance agency service.
KAMEI CORPORATION 