PE Heavyweight KKR to Buy Japanese Drugmaker Bushu Pharmaceuticals from BPEA EQT
US private equity firm KKR has agreed to acquire all shares in Japan-based drug developer Bushu Pharmaceuticals from pan-Asian private equity firm Baring Private Equity Asia (BPEA), which is owned by EQT.
Although financial terms of the deal were not disclosed, Bloomberg, citing people familiar with the matter in August, reported that the price was about $749mn.
The deal is expected to close in the first quarter of 2023.
KKR said it aims to expand Bushu into new as well as growth segments such as injectables, invest in further capacity expansion and quality control and seek further growth opportunities.
“By leveraging KKR’s deep experience in healthcare, tech, and supply chain solutions, we aim to help Bushu Pharma to further scale its best-in-class business and to drive growth and technical innovation that will ultimately benefit patients in Japan and around the world,” said Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and Chief Executive Officer of KKR Japan.
BPEA, which recently completed a merger with one of the largest buyout firms EQT, bought Bushu from a fund advised by Tokio Marine Capital for $670mn in 2014.