Bain Capital plans to take Japan's Snow Peak private under management buyout - Nikkei (updated)

Snow Peak

17/02/2024 05:10

(Adds deal value, company comments)
       TOKYO, Feb 17 (Reuters) - U.S. buyout fund Bain Capital
plans to help Japanese outdoor goods maker Snow Peak  7816.T  go
private under a management buyout worth 50 billion yen ($333
million), the Nikkei newspaper reported on Saturday, without
citing sources.
    Bain and the company will make a public tender offer, which
will be announced as early as next week, the report said. 
    The offer price will be over 1,200 yen per stock, more than
a 40% premium over Snow Peak's close of 838 yen on Friday, the
report said. 
        The company was worth 32 billion yen based on the
Friday's close.
  
        Snow Peak said on Friday that the report on the
management buyout, which was earlier reported by Mergermarket
news, was not based on a company announcement.  
  
        Snow Peak, which sells mountain climbing and camping
goods, reported a record profit in the year ended 2021, the
report said.
  
        Shares of Snow Peak, which went public in 2014, hit a
record high of 4,490 yen in November 2021. 
  

        
  


($1 = 150.2100 yen)

 (Reporting by Junko Fujita; Editing by Raju Gopalakrishnan and
Stephen Coates)
 ((junko.fujita@thomsonreuters.com;))