PAG to buy theme park in Japan for $720m

PAG to buy theme park in Japan for $720m

Asia-Pacific-focused investment firm PAG has entered into an agreement with H.I.S. Co. to acquire Huis Ten Bosch Co.(HTB), one of Japan’s largest theme parks, for an equity valuation of approximately JPY100 billion(US$720 million).

Huis Ten Bosch, with a history of 30 years, is a household name in Japan. It is best known for its authentic recreations of traditional European-style cityscapes, as well as popular flower and fireworks festivals, musical events and light shows, and next-generation interactive entertainment. Attractions include the kid-friendly Fantasy Forest, dinosaur-themed adventure tour Jurassic Island, and the interactive light attraction Fantasia City of Light.

Spanning 376 acres, the park also includes five hotels and several world-class restaurants, and welcomed over two million visitors annually from Japan and abroad before the pandemic.

PAG plans to expand Huis Ten Bosch’s theme park by investing in new attractions and events to attract tourists and visitors.

PAG is an experienced investor in theme parks and the entertainment industry, having previously invested in Universal Studios Japan and digital music company Tencent Music Entertainment. Other PAG investments in Japan include automotive passive safety equipment manufacturer Takata (now known as Joyson Safety Systems), and restaurant group GYRO Holdings.

Koichi Ito, Managing Director and Co-Head of Japan of PAG’s private equity strategy: “This is an exciting opportunity for us to accelerate the growth of one of the most iconic theme parks in Japan. We appreciate the trust that H.I.S. has placed in us. This deal is good for the sellers, for PAG’s investors, and most importantly for HTB and its customers and fans. We are thankful for the support from our customers, partners, and local communities, and we look forward to contributing more to the local economy.”

Mr. Ito adds, “PAG has deep expertise across Asia-Pacific in the consumer sector and we are well positioned to support HTB’s next phase of growth. We have great confidence in the park’s future potential, and we look forward to working closely with the entire HTB team to offer an unforgettable experience to visitors of all ages.”

Mr. Motoshi Yada, President of H.I.S., says, “We are convinced PAG is the best partner for HTB. With extensive experience and expertise in managing theme parks, I am confident PAG will make a significant and enduring contribution to the future growth of HTB.”

Mr. Katsuhiko Sakaguchi, President of HTB, says: “I am truly grateful that PAG saw great potential in HTB and highly appreciate our efforts to date. We look to further enhance the level of customer satisfaction benefitting from PAG’s expertise as well as Katana’s marketing know-how. We will continue to endeavor to meet the expectations of all stakeholders including our customers, trade partners and the local communities who have been great supporters of HTB.”