KKR acquires Japanese beauty and lifestyle group Ci Flavors

Global investment firm KKR has agreed to acquire leading Japanese cosmetics group Ci Flavors from all existing shareholders, including Ci Flavors founder Yusaku Horiuchi, L Catterton, eBeauty Group, and Yanagi Capital Partners. Yusaku Horiuchi and Representative Director and CEO Yoshiaki Okura will both be investing alongside KKR in the transaction.

With roots dating back to 2011, Ci Flavors has grown into one of Japan’s leading beauty and lifestyle brand platforms, offering products across haircare, skincare, body care and lifestyle categories. Its portfolio includes brands such as &honey, 8 The Thalasso, Ahalo Honey, Amina Mason, unlabel, Sola Weather Care, Theratis, and Moroccan Beauty, among others. Its operations span brand sales, OEM manufacturing, D2C and e-commerce channels, directly managed department store retail, and global ingredient and materials procurement. Ci Flavors has an established presence in Japan’s haircare market, particularly in shampoo and hair treatment products, and has recorded growth in overseas sales, including in Asia and North America.

"Ci Flavors has built a differentiated position in Japan’s beauty market through its consumer-focused product development capabilities and diversified portfolio of brands. We look forward to working closely with the management team and leveraging KKR’s global network in the consumer sector, operational expertise, and investment experience to support the company’s continued growth in Japan and further expansion across international markets," commented Eiji Yatagawa, Partner and Head of Japan Private Equity at KKR.