Boston, MA, Jan. 18, 2022 – Burns & Levinson today announced that it represented New Hampshire-based Yogibo LLC in the company’s sale to Web Shark Co., Ltd., which is based in Osaka, Japan. The acquisition of Yogibo, which is known for its innovative bean bag furniture that molds to the user’s body, was completed on December 30, 2021 and was announced by Web Shark on January 12, 2022.
The Yogibo brand was founded in 2009 by Eyal Levy, who will remain as CEO of the company. In 2014, Web Shark became Yogibo’s sales agent in Japan. Today, Yogibo has approximately 130 stores worldwide in the U.S., Japan, Canada, South Korea, Taiwan, Thailand, Singapore, and the Netherlands.
The Burns & Levinson deal team was led by partner Gil Breiman with significant contributions from partner Alex Khalarian and attorneys Michael Andreasen, Lauren Barrett, and Rodney Bedow, along with support from other specialists at the firm.
“We have been Yogibo’s outside general corporate counsel since the beginning, handling everything from the company’s formation and financing to commercial agreements and celebrity endorsements. It has been an honor to represent them throughout their incredible journey from startup to sale,” said Breiman. “We look forward to their continued success as they embark on this exciting next chapter.”
“Burns & Levinson has been with us every step of the way, and their professional and personal client service and business advice has played a significant role in helping us get to this important juncture,” said Eyal Levy, CEO of Yogibo. “We are especially grateful for Gil and his team’s wisdom and expertise in guiding us through this transformative M&A deal for our company.”
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