KKR said on Monday it had agreed to acquire Ci FLAVORS Co., Ltd., a Tokyo-based beauty and lifestyle brand platform, in a transaction backed by the firm’s Asia Pacific private equity strategy.
The U.S.-based buyout group did not disclose financial terms. Existing shareholders including founder Yusaku Horiuchi, L Catterton, eBeauty Group and Yanagi Capital Partners will sell their stakes, while Horiuchi and Ci FLAVORS CEO Yoshiaki Okura will co-invest alongside KKR. Definitive agreements were signed on Aug. 25, 2026.
Ci FLAVORS operates a portfolio of brands including &honey, 8 THE THALASSO, unlabel, THERATIS and MOROCCAN BEAUTY, spanning haircare, skincare, body care and lifestyle categories. The company sells through direct-to-consumer and e-commerce channels, department stores and global procurement networks, with reported growth in overseas sales in Asia and North America.
KKR Partner and Japan Private Equity Head Eiji Yatagawa said the firm would work with Ci FLAVORS’ management to leverage its global consumer-sector network and support expansion in Japan and abroad. Okura said the company plans to pursue international growth, category expansion, talent development and strategic mergers and acquisitions.
L Catterton, which invested in Ci FLAVORS in 2022, manages about $40 billion across private equity, credit and real estate. KKR’s consumer portfolio includes Wella Company, Fresha, Seiyu, V3 Group and Vini Cosmetics.
