Cozy fit: Beanbag chair maker Yogibo bought by Japanese distributor

Nikkei -- Jan 13
Yogibo, an American company known for its beanbag furniture, has been acquired by the company distributing its products in Japan, one of its biggest markets.

Web-Shark bought the New Hampshire-based company in late December in a deal believed to be valued at more than 10 billion yen ($87 million).

Yogibo, established in 2009, makes and sells chairs, sofa and other foam-bead-filled furniture that molds to the user's body. It had a presence in eight markets at the end of 2021, including the U.S., Japan and South Korea. The company does not publicly release sales data, according to Web-Shark's announcement.

Web-Shark became Yogibo's Japanese sales agent in 2014, and won fans with its own unique products and appealing store designs. The country now hosts nearly 70% of Yogibo's roughly 130 stores worldwide.