Tokyo – Monday, 18 March 2019 – CLSA Capital Partners, the asset management business of CLSA, is pleased to announce that Sunrise Capital III (“Sunrise III”) has signed an agreement to acquire BLOOM Ltd. and its affiliated companies (“BLOOM Group” or “Company”), a leading designer, manufacturer and wholesaler of amusement-related products, toys and daily goods in Japan. A fund of CLSA Capital Partners, Sunrise III invests in established, mid-cap companies with strong growth potential in Japan.
Sunrise III will become a majority stakeholder of BLOOM Group and Ms. Toshiko Kuwahara, the current shareholder and founder, will maintain a minority shareholding. There will be no material changes to the Company’s management structure or business operations and Ms. Toshiko Kuwahara will continue to be involved in management and product development. It is anticipated that the transaction will close in early April 2019.
For more than 20 years, the BLOOM Group has designed, manufactured and sold amusement-related products, toys and daily goods. In addition, the BLOOM Group manages specialty shops in Tokyo. The Company has developed and sold soft-textured “Squishy” figures under the brand names of “Bloom” and “iBloom” since 2002. Due to the unique form, soft texture and popular original characters, the brand is much loved not only by children but also their parents. The “Bloom” and “iBloom” toys have also become popular internationally in North America, Europe and Asia, driven by the worldwide penetration of various social networking services.
Ms. Toshiko Kuwahara commented: “Largely driven by the creativity of our designers, we have expanded our business by developing innovative products to the world. We are committed to creating high quality products with a loveable design. In order for these products to endure, we believe it is crucial to further enhance our organization, administrative functions and our design capabilities. We are pleased to expand our business through collaboration with Sunrise III, which has significant expertise in helping businesses to transform and expand overseas.”
Mr. Megumi Kiyozuka, President & Representative Director of Sunrise Capital, commented: “Sunrise III holds the BLOOM Group in high regard for essentially inventing the “Squishy” category and establishing a very prominent brand. The Company’s management and staff have demonstrated a strong will and excellent execution capabilities to deliver products of the highest quality and design for the utmost satisfaction of customers. Sunrise III looks forward to assisting Ms. Toshiko and her accomplished team to further promote the Company’s global vision.”
About BLOOM Group
The BLOOM Group is a designer, manufacturer and wholesaler of amusement-related products, toys and daily goods. The Company’s products are loved by the public for their creativity and high quality. In 2002, the Company started the “Squishy” business to target elementary and middle school girls. Due to their creative and artistic nature, brand recognition is continuing to rise through social networking services.