Tokyo-based Noritsu Koki Co., Ltd. (TSE:7744) (NKC) has agreed to acquire JLab for $370 million from its previous private equity owner and the transaction is expected to close in the second quarter of 2021. NKC will provide JLab with additional resources to continue its forward progression, including product innovation and further retail expansion worldwide.
“We’re incredibly excited to have found a partner such as NKC. They have a proven track record of being one of the best equity partners for growing brands,” said Win Cramer, CEO for JLab. “If you look at their previous investments, it’s easy to see how their approach has helped brands continue to see success by providing the extra capital needed for expansion while at the same time allowing the brands to focus on the core competencies that brought them success in the first place.”
As a part of this new equity ownership, JLab will continue to operate as an independent company under the JLab name, with its sales, marketing, product development, finance, support and operations teams remaining intact in its San Diego, California headquarters. Win Cramer will continue to hold the position of CEO for JLab and the management team will remain intact.
For more information visit www.jlab.com.