Japan’s Polaris picks up buffet restaurant business Edoichi

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edoichiJapan-focused mid-market private equity firm Polaris Capital Group has completed a deal for buffet restaurant business Edoichi in a deal reportedly worth JPY9bn ($86m).

Edoichi launched the first Japanese buffet restaurant chain, Sutamina Taro, in 1978 offering sushi and Japanese barbecue.

The company now has more than 150 shops across the country and is currently Japan’s largest buffet restaurant chain.

Polaris made the latest investment from its JPY20bn third fund.

Last month the firm listed portfolio company Voyage Group, which runs online membership and media sites such as price comparison site EC Navi, on the Tokyo Stock Exchange’s Mothers market.

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