Sato Restaurant Systems Co., Ltd. completed the acquisition of FOODSNET Corporation from Corporate Value-up Fund L.P., a fund of Palace Capital Co., Ltd. and other investors.
July 01, 2013 at 12:00 am EDT
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Sato Restaurant Systems Co., Ltd. (OSE:8163) agreed to acquire FOODSNET Corporation from Corporate Value-up Fund L.P., a fund of Palace Capital Co., Ltd. and other investors for ¥3 billion on May 31, 2013. Under the terms of agreement, Sato Restaurant Systems agreed to acquire 0.36 million shares of FOODSNET. As of year ending May 31, 2012, FOODSNET Corporation had sales of ¥8.4 billion, EBIT of ¥173 million, total assets of ¥5.8 billion, net assets of ¥3.9 billion and net income of ¥33 million. The transaction is expected to close on July 1, 2013. GCA Savvian Corporation acted as the financial advisor to Palace Capital Co., Ltd.
Sato Restaurant Systems Co., Ltd. (OSE:8163) completed the acquisition of FOODSNET Corporation from Corporate Value-up Fund L.P., a fund of Palace Capital Co., Ltd. and other investors on July 1, 2013.
SRS HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the restaurants operation business. Its main products are Japanese food. The main brands include WASHOKU SATO, SANTEN, NABEICHI, Meotozenzai, CHOJIRO, Meshiya Miyamoto Munahsi, MIYAKOBITO. The Company is also engaged in real estate rental business.
Sato Restaurant Systems Co., Ltd. completed the acquisition of FOODSNET Corporation from Corporate Value-up Fund L.P., a fund of Palace Capital Co., Ltd. and other investors.
SRS HOLDINGS CO.,LTD. 
