Skylark Holdings, operator of the Gusto and Bamiyan restaurant chains, agreed on 24 March to buy Shinpachi, owner of the Shinpachi Shokudo grilled-fish set-meal chain, from private equity firm J-STAR and other shareholders for ¥11.0bn.
Why Skylark Holdings Co., Ltd. is buying Shinpachi Co., Ltd.
Skylark said the deal would broaden its low-price, everyday-use brands and speed its urban expansion, drawing on Shinpachi's ability to develop small city sites, its store design and its digital operations. About 70% of Skylark's restaurants are roadside, according to Impress Watch.
Deal terms and financing
Skylark is buying all 169,462 Shinpachi shares for ¥11,039m from J-STAR No.3 SS, LP, a Cayman Islands fund, and other holders.
Regulatory approvals and timing
The share transfer was scheduled for 30 April 2026. Skylark's first-half 2026 results, published on 13 August, listed Shinpachi and Echigoya as new consolidated subsidiaries (Skylark tanshin, 13 August 2026).
Market context
Shinpachi operated 108 outlets at the end of February 2026: 66 Shinpachi Shokudo set-meal restaurants, 15 Echigoya restaurants, 18 Shinpachi Shokudo grilled-rice outlets and others. Skylark acquired the Sukesan restaurant chain in 2024 as part of the same low-price push, Impress Watch noted.
