Companies

Snow Peak to Go Private with Help from U.S. Fund

Yomiuri Shimbun file photo
Snow Peak FIELD SUITE SPA HEADQUARTERS

Jiji Press

16:50 JST, February 21, 2024

Niigata, Feb. 20 (Jiji Press) — Japanese outdoor goods maker Snow Peak Inc. said Tuesday it will go private with support from U.S. investment fund Bain Capital.

Snow Peak and Bain will jointly launch a tender offer to buy shares in the company for ¥1,250 apiece for a total of some ¥34 billion during the period between Wednesday and April 12.

Going private will allow Snow Peak to make decisions flexibly as it is struggling with waning demand for outdoor goods that had grown during the COVID-19 pandemic.

Snow Peak Chairman and President Toru Yamai will continue to manage the company even after it goes private. The company aims to strengthen its brand recognition overseas through cooperation with Bain.

Based in the central Japan prefecture of Niigata, Snow Peak was founded in 1958 as a hardware wholesaler.