It's taking 50% of Jupiter from Sumitomo
Tokyo — U.S. equity outfit Bain Capital is acquiring a 50% share in Japan’s Jupiter Shop Channel from the Sumitomo trading house, according to company sources, for a reported $1.3 billion.The deal is an uncommon one for a U.S. equity film in Japan, whose companies usually fight foreign buyout offers tooth and nail. Bain, however, has a better track record than most, with ownership stakes in the Domino’s Pizza and the Skylark restaurants chains in Japan. Founded in 1996, Jupiter controls about 30% of the country’s TV shopping market, according to Sumitomo. It’s available 24/7 on cable, satellite and terrestrial webs and boasts a viewership of 27 million households and $1.24 billion in annual sales.