Asian private equity firm The Longreach Group has agreed to totally acquire Japanese coffee shop chain Kohikan Corporation from UCC Foodservice Systems (UFS) for an undisclosed amount.
In a statement on its website, Longreach says it has reached an agreement with UFS to buy 100 per cent of its subsidiary Kohikan. The deal is expected to close on May 1.
Longreach says the investment would be an opportunity with a clear business growth path in the premium coffee business in Japan “with a potential to expand into high-growth Asian markets”.
Established in 1970, the chain has 277 stores throughout Japan under the brand names Cafe di Espresso Kohikan, Karakuan, Kakura and Kohikan.
“Longreach will accelerate Kohikan’s growth through enhancing the stores’ format and via expansion,” says the firm. Set up in 2003 by former UBS Securities Japan CEO Mark Chiba and former Morgan Stanley executive Masamichi Yoshizawa, Longreach has experience in restaurant chains and owns Wendy’s First Kitchen.