Cosmetics maker Pola Orbis has agreed to acquire a portfolio company, Japan-based beauty supplement producer Tricot, for ¥3.8bn ($36.2m).
Pola Orbis currently holds a 10.56% stake in Tricot, and the transaction will involve it getting 59.83% from company CEO Kana Hanabusa, 20% from venture capital firm XTech Ventures and 9.61% from three unnamed individuals.
Founded in 2018, Tricot runs Fujimi, a personalised beauty care service that selects cosmetics products tailored to each customer. The company launched its first batch of supplements in early 2019 before releasing bespoke face masks the year after.
Pola Orbis will provide its research and development expertise to help Tricot accelerate growth in a bid to strengthen synergies between the two. Tricot will also contribute its entrepreneurial experience and speed to the group.
The corporate’s Pola Orbis Capital unit took part in a $1.4m pre-series A round in October 2019, investing alongside XTech Ventures. The company had secured $270,000 in seed funding six months earlier from XTech Ventures and angel investor Takuya Noguchi.
