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Leading investment firm KKR has announced the sale of Japanese supermarket chain Seiyu to retail firm Trial Holding for ¥380 billion ($2.54 billion).
Trial Holding is a distribution and retail business on the island of Kyushu with a network of stores offering “everyday essentials”.
In 2021, KKR acquired a 65% majority stake in Seiyu from Walmart, followed by a 20% stake from Rakuten in 2023. As part of the deal, Walmart will sell its 15% stake to Trial Holding.
Presently, Seiyu has 240 retail stores in Japan.
“We are incredibly proud of what we have achieved with Seiyu and our strategic partners Walmart and Rakuten over the course of our ownership, and how this has delivered tremendously for Seiyu’s customers and our investors”, said Hiro Hirano, deputy executive chairman of KKR Asia Pacific and CEO of KKR Japan. “Seiyu serves as an outstanding example of how global investors with deep local knowledge, global connectivity and know-how can help iconic Japanese brands and local champions unlock their full potential. We are confident that Seiyu is well-placed to build on its achievements and wish the company and Trial continued success”.
The transaction is expected to close this quarter, subject to regulatory and customary closing conditions.
Source: KKR (via BusinessWire)
