Japanese beauty salon chain AB & Company, led by Japan-focused private equity fund Sunrise Capital, will fully acquire Agir Co by the end of the month.

Agir has managed an AB franchise since 2014, operating 40 salons principally in Tokai. The CEO and president of Agir, Kazutaka Higuchi, will be retained under the new ownership and be admitted to the AB management team.

Details of the transaction have yet to be released.

AB & Company, operating as Agu, manages 310 beauty salons nationwide, with more running under around 20 franchisees. Just one month ago, the firm acquired another local beauty chain, Puzzle. The group intends to increase the total number of salons to 1000 in the near future.

Sunrise Capital has sourced around US$1 billion in funding for investments in 16 companies since launching in 2006.