# The Crosby Group to acquire KITO CORPORATION for JPY 2,725 per share

The Crosby Group has entered into a definitive agreement to acquire all outstanding shares of KITO CORPORATION via a cash tender offer at JPY 2,725 per share, combining two lifting solutions providers. The deal is expected to close in H2 2022.

- Type: Acquisition
- Announced: 2022-05-16
- Where: Japan
- Status: announced
- Products: lifting and rigging equipment, hoists, cranes
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [KKR](https://endata.com/companies/16879.md) (investor)
- [Kito](https://endata.com/companies/29887.md) (target)
- [Crosby Group](https://endata.com/companies/39458.md) (acquirer)

## Sources

- [news.kitocrosby.com](https://news.kitocrosby.com/news/kito-crosby-announcement), 2022-05-16: "This is an extraordinary opportunity to bring together two companies with differentiated, industry-leading capabilities, to create exceptional value for all stakeholders"
- [kirkland.com](https://www.kirkland.com/news/press-release/2022/05/kirkland-advises-the-crosby-group-on-kito), 2022-05-16: "The business combination will be effected through a cash tender offer by The Crosby Group to acquire all of the outstanding shares of KITO CORPORATION for JPY 2,725 per share."
- [kitocrosby.com](https://kitocrosby.com/news/the-crosby-group-and-kito-corporation-to-combine-creating-integrated-lifting-solutions-provider/), 2022-05-16: "This is an extraordinary opportunity to bring together two companies with differentiated, industry-leading capabilities, to create exceptional value for all stakeholders."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.