Hong Kong-based investment firm, PAG, has acquired Gyro Holdings, the operator of a collection of restaurant and cafe brands in Japan.

The value of the deal has not yet been disclosed. Gyro will join PAG’s portfolio of investments in F&B businesses, including Singapore’s Paradise Dynasty, Chinese tea brand Nayuki Tea, Australia’s Craveable Brands and The Cheesecake Shop.

“We believe that the diverse brands and store networks that Gyro employees have built up so far have a high potential for further growth after the Covid-19 disaster,” said Koichi Ito, MD of PAG.

According to Gyro, with the support of PAG, the company will continue to focus on its expansion plan in Asia and Japan. Founded in 2006, Gyro currently has a portfolio of more than 200 stores under more than 90 local restaurant and cafe brands, ranging from izakaya-style beer gardens to high-end restaurants.

“Gyro has a track record of expanding its business scale through aggressive M&A,” said Hideki Nakamura. “We will continue to strongly promote our M&A strategy and strive to increase corporate value while utilising PAG’s knowledge.”