Japan's Advantage Partners to sell Komeda coffee chain to MBK Partners

TOKYO Tue Jan 15, 2013 4:14am EST

TOKYO Jan 15 (Reuters) - Japanese private equity firm Advantage Partners has agreed to sell its stake in coffee shop chain operator Komeda Co to MBK Partners for an undisclosed amount, its second asset sale in a month.

Advantage Partners had aimed to sell the company for more than 40 billion yen ($448 million), or the equivalent of over 10 times Komeda's earnings before interest, tax, depreciation and amortisation (EBITDA), sources have told Reuters previously.

Both Advantage Partners and MBK declined to comment on the price.

Advantage Partners bought an 80 percent stake in Komeda, which operates 483 shops, in 2008.

The buyout firm, which in the process of raising a new fund called IV-S, last month sold its stake in MEI Conlux Holdings and its Japanese affiliate for about $820 million to U.S. firm Crane Co. [ID: nL1E8NL0CP]