Japan's Trial Holdings to acquire supermarket chain Seiyu for $2.55b

Japan’s Trial Holdings has announced that it will acquire supermarket chain Seiyu for $2.55b (JPY 382.6b) from its current majority owner, U.S. private equity firm KKR (KKR.N), Reuters reported.

Trial Holdings said it would finance the acquisition through a combination of existing cash reserves and newly secured bank loans.

The deal will make Seiyu a wholly owned subsidiary of Trial Holdings.

KKR initially acquired a 65% stake in Seiyu from Walmart in 2021, later purchasing an additional 20% from Rakuten in 2023.

According to a separate release from KKR, Walmart will also sell its remaining 15% stake to Trial as part of the transaction.