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FamilyMart takes over midsize convenience store rival chain Cocostore

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FamilyMart takes over Cocostore
JAPAN –
FamilyMart Co Ltd has acquired Japanese convenience store rival Cocostore Corporation for about US$105.38 million (¥13 billion).

Following the completion of the deal, Cocostore – which operates both franchise and directly-owned convenience stores under the brands “Cocostore” and “Everyone” in Japan - will become a 100% owned subsidiary of FamilyMart.

According to FamilyMart, the synergies between both retailers make Cocostore a suitable acquisition target, helping the company further increase competitiveness not only for existing FamilyMart franchisees but also for the Cocostore franchisees, which will be able to gain access to FamilyMart’s store networks, IT infrastructure, product development and the well-established and popular FamilyMart convenience store brand.

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http://www.family.co.jp
http://www.cocostore.jp/

PACKAGING BUSINESS INSIGHT ASIA

1 PBIA May2015 web

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