(CercleFinance.com) – KKR announces the acquisition of Rakuten’s stake in Seiyu, a nationwide supermarket chain in Japan. With this purchase, KKR increases its stake in Seiyu from 65% to 85%.
KKR and Rakuten, along with Seiyu’s third largest shareholder, Walmart, collaborated to support Seiyu’s growth. Supporting initiatives included improving product quality, user experience and store operations, as well as store renovations and refurbishments.
Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and CEO of KKR Japan, said, ‘Together, we remain committed to helping Seiyu continue to deliver greater value and convenience to its customers across Japan. and maintain its strong growth.
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