Private equity giant KKR said on Monday it would acquire Ci FLAVORS Co., Ltd., a Japanese beauty and lifestyle brand platform, in a transaction backed by existing shareholders and management.
The deal, announced on August 25, 2026, will see KKR’s Asia-Pacific private equity strategy acquire the company, which was founded in 2011. Existing stakeholders Yusaku Horiuchi, L Catterton, eBeauty Group and Yanagi Capital Partners will sell their stakes, while founder Yusaku Horiuchi and CEO Yoshiaki Okura will co-invest alongside KKR. Financial terms were not disclosed.
Ci FLAVORS operates a portfolio of brands including &honey, 8 THE THALASSO, unlabel, THERATIS and MOROCCAN BEAUTY, with product lines spanning hair care, skin care, body care and lifestyle goods. The company generates revenue through brand sales, OEM manufacturing, direct-to-consumer and e-commerce channels, department store retail and global sourcing.
Headquartered in Japan, Ci FLAVORS has a strong domestic presence—particularly in shampoos and hair treatments—and is expanding sales in Asia and North America. L Catterton, which invested in Ci FLAVORS in 2022, manages approximately $40 billion in equity capital across private equity, credit and real estate platforms.
Eiji Yatagawa, Partner and Head of Private Equity in Japan for KKR, said the firm will collaborate with Ci FLAVORS’ management team and leverage its global consumer network to support growth in Japan and international markets. Yoshiaki Okura, Ci FLAVORS’ CEO, said the company plans to pursue international expansion, category growth, talent development and strategic M&A.
KKR’s consumer sector investments include Wella Company, Fresha, Seiyu, V3 Group and Vini Cosmetics.
