Private equity firm Carlyle Group has begun the sale process of Japanese cosmetics supplier Tokiwa Corp in a deal that could value the company at $800 million.
Non-binding bids for the company are expected by mid-March, said the sources, who declined to be named as the information is confidential.
Potential buyers include private equity firms and several companies in the cosmetics industry, said one of them.
The 75-year-old Japanese company has about $50 million in expected earnings before interest, taxes, depreciation, and amortization (EBITDA), the sources said.
Tokiwa is aiming to fetch a high-teen multiple over the core earnings in a sale, potentially valuing the company at $800 million or more.
Source: Channel News
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