Bain Capital has agreed to acquire a controlling position in South Korean activewear company Echo Marketing, according to a regulatory filing, marking another consumer-focused investment by the US private equity firm in Asia.

The transaction involves the purchase of a 43.66% stake for about 216.6bn won, equivalent to roughly $150m, from the company’s founder and another shareholder. Bain Capital is also launching a tender offer for the remaining shares at 16,000 won per share, implying a total equity value of approximately $344m.

Echo Marketing owns Andar, a domestic activewear brand that has expanded alongside rising demand for athleisure and wellness products in South Korea. The company is listed on the Kosdaq exchange.

Investors reacted positively to the deal. Shares in Echo Marketing jumped about 30% following the announcement, although they remain below the tender offer price.

The transaction underlines continued private equity interest in Asian consumer brands with strong domestic market positions, even as dealmaking conditions remain uneven across the region.

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