Japanese Conglomerate Takes Over Birtcher Real Estate Ltd. : Acquisition: Family gives up control of 55-year-old development firm in just-revealed Jan. 1 deal that boosts Mitsui’s stake to 65%.

Birtcher Real Estate Ltd., the 55-year-old Laguna Niguel construction and development company, is no longer a family-owned firm.

Mitsui & Co. Ltd. has taken a more than 65% stake in Birtcher, according to Andrew L. Youngquist, president of Birtcher Construction Ltd., a sister subsidiary also controlled by Mitsui. In June, 1990, the Japanese conglomerate took a 50% stake in Birtcher Real Estate, one of California’s oldest developers, for more than $100 million.

The amount paid by Mitsui for the added stake was not revealed by the company, though the increased stake became effective Jan. 1.

Ronald E. Birtcher, 64, and Arthur B. Birtcher, 54, have stepped down as co-chairmen of Birtcher to pursue other family business activities. They were replaced Jan. 1 by a Mitsui-appointed executive, Tsutomu Utsugi. Their father, Fayette E. Birtcher, founded the company in 1939.

Youngquist stressed that there would be no impact in the company’s day-to-day operations. “It’s something that’s been planned for so long, it’s just kind of old hat around here,” Youngquist said.

He added that neither Birtcher had been recently active in daily business operations of the real estate development and construction businesses.

“When Birtcher (Real Estate) entered this with Mitsui in 1990 it was always with this in mind,” Youngquist said. “Basically what happens when you’re a family and you own a construction company (is) you have to pledge all your assets to bonding for construction jobs. So the Birtcher family, as part of their investment strategy and retirement plans, wanted to move out of a majority ownership.”

Ronald Birtcher’s son, Baron, will remain president of Birtcher Senior Properties, the company’s property division. Another of Ronald’s sons, Brandy Birtcher, will remain president of the Birtcher Group, which is developing resort properties in Mexico.

The ownership shift, though not publicly announced, was revealed to employees in a Jan. 10 memo from Ronald and Arthur Birtcher.

“As previously anticipated, we have positioned Birtcher Real Estate Ltd. so as to enable us to spend a greater portion of time with Birtcher family business activities,” the memo states. “We will remain active as a partner with Mitsui and will continue to serve on (the) board of directors.”

Neither Ronald nor Arthur Birtcher could be reached for comment. The new chairman, Utsugi, was traveling Tuesday with Michael Voss, who will remain president of Birtcher Real Estate. Neither could be reached for comment, the company said.