FountainVest Partners Co. and Unison Capital have acquired Japanese jeweler Tasaki & Co. for about ¥100 billion ($660 million), according to people familiar with the matter.

FountainVest and Unison plan to grow Tasaki and then recover their investment through a listing or sale to another company, the people said, asking not to be identified discussing private information. They didn’t disclose a time frame or other targets for Tasaki, but said it is FountainVest’s first investment in Japan. 

Representatives for FountainVest and Unison declined to comment. 

The Asia-based private equity firms emerged as the likeliest to buy Tasaki from MBK Partners around April, Bloomberg News reported at the time. MBK took Tasaki private in 2017. A representative for MBK also declined to comment. 

Established in 1954, Kobe-based Tasaki operates more than 100 stores in Japan and elsewhere in Asia, as well as in Europe, according to MBK’s website.