Tokyo: U.S. private equity heavyweight Bain Capital has finalised plans to acquire Fine Today Holdings, the Japanese personal-care company behind the popular Tsubaki shampoo brand, in a transaction valued at roughly ¥200 billion (about $1.29 billion), Japanese business newspaper Nikkei reported on Sunday. The proposed acquisition marks one of the largest consumer-goods buyouts in Japan this year and underscores the ongoing interest among global investors in the country’s strong domestic brands and market potential.
Bain is set to purchase all outstanding shares from CVC Capital Partners, the private equity firm that currently owns Fine Today. While Reuters has not independently confirmed the deal’s completion, the Nikkei report suggests that negotiations are in advanced stages and that Bain has emerged as the frontrunner in the sale process. (
Fine Today, established in 2021 following the spin-off of personal-care operations from cosmetics giant Shiseido, has built a strong reputation in Japan and across the Asia-Pacific region with its portfolio of haircare and personal-care products, including Tsubaki, SENKA, FINO and UNO. The company’s strong regional footprint and steady consumer demand have made it an attractive target for buyout firms looking to expand in Asia’s beauty and personal-care markets.
The acquisition reflects a renewed wave of private equity activity in Japan, where buyout firms have been increasingly targeting sizeable deals in consumer, retail and other strategic sectors such as pharmaceuticals and technology. Bain itself has been active in the region, building out its investment portfolio and raising substantial funds to support dealmaking.
Industry observers note that global private equity players are drawn to Japan due to corporate governance reforms, a large domestic consumer base and the appeal of established brands with room for international growth. A successful takeover of Fine Today would further demonstrate how foreign capital continues to flow into Japanese companies that combine strong market positions with growth potential beyond Japan’s borders.
If the acquisition closes as reported, it would extend Bain’s footprint in Asia’s consumer space, complementing its broader investment strategy that includes backing established brands and partnering with local management to accelerate expansion.