Private investment major KKR is to increase its majority holding in Seiyu, a nationwide supermarket chain in Japan, by acquiring Rakuten’s stake in the business. The deal sees KKR up its stake from from 65% to 85%.
KKR and Rakuten, together with Seiyu’s third shareholder, Walmart, have collaborated to support the company’s growth since KKR and Rakuten first invested in the business in 2021. Support initiatives have included improving product quality, user experiences, and store operations, and renovating and refurbishing stores.
KKR is making its investment from its Asian Fund IV. Further details of the investment have not been disclosed.
