The Longreach Group has acquired 100% of the shares of Primo Japan from an affiliate of Baring Private Equity Asia for a reported ¥20 billion ($170 million), including debt. Primo specializes in the production and retail of semi-customized bridal jewelry, including engagement and wedding rings. Planning for further growth in Asia, the company has 76 stores in Japan, plus 10 in Taiwan and two in Hong Kong. Longreach is said to have paid about 8x trailing EBITDA. Baring Asia backed the company in January 2011.