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Korea M&A Corporation
Orix buys QB Net barbershop chain 본문
Leasing firm Orix Corp. said Tuesday it has purchased a 73.9 percent stake in QB Net Co., which runs the barbershop chain QB House, and sent two directors to the QB Net board.
Orix said it will cooperate with QB Net's management and employees to increase its corporate value with a view to making an initial public offering of its shares in the future.
QB Net, founded in 1995, has rapidly expanded the QB House chain, operating 338 shops that draw more than 9.5 million customers a year, according to the company. It has also launched QB House shops in Singapore, Thailand and Hong Kong.
Orix has developed close relations with QB Net through leasing and other transactions and bought the QB Net shares from Kuniyoshi Konishi, the company's founder and chairman, upon his retirement.