KKR, through its Asian Fund IV, has agreed to purchase Rakuten Group Inc.‘s stake in Seiyu, a supermarket chain in Japan.
With this purchase, KKR increases its stake in Seiyu from 65 percent to 85 percent. KKR and Rakuten, together with Seiyu’s third shareholder, Walmart, have collaborated to support Seiyu’s growth since KKR and Rakuten completed their investments in the company in 2021. Following the deal, Rakuten will continue to be a strategic partner to Seiyu and will work closely with the company’s management and shareholders to strengthen Seiyu’s offering to customers.
“We look forward to unlocking the company’s full potential through the continued strategic partnership with Rakuten and Walmart, which brings together our respective expertise in investing behind a company’s growth, global best-in-class practices, and thoughtful customer experience,” comments Hiro Hirano, co-head of private equity for KKR Asia Pacific and CEO of KKR Japan. “Together, we remain focused on helping Seiyu continue to deliver greater value and convenience to its customers across Japan and maintain its strong growth.”