JAPAN: Wal-Mart takes stake in Japanese food retailer Seiyu
US retail behemoth Wal-Mart said today [Thursday] it would acquire a minority stake in the Seiyu supermarket group in Japan. While Wal-Mart will initially acquire just a 6.1% stake in the chain, it will also have the right to take the chain over. "Under the agreement Wal-Mart would have the ability to inject up to ¥260bn (US$2.0bn) of new equity into Seiyu, raising its stake up to 66.7% over time," Wal-Mart said in a joint statement with Japan's fifth-largest supermarket operator and trading house Sumitomo Corp.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- General Mills sales woes continue - analysis
- Comment: Meal kits in US - don't believe the hype
- Interview: Farmhouse Culture taps gut-health
- Kraft Heinz cuts jobs in US, Canada
- Post Holdings 'close to acquiring Weetabix'
- Mondelez set for union crosshairs next week
- Recipe-kit firm HelloFresh launches into UK retail
- Mondelez plays down impact of union action