- KKR (NYSE:KKR) and Rakuten (OTCPK:RKUNF) acquire stakes in Japanese supermarket chain Seiyu GK from Walmart (WMT).
- As a result, KKR owns a 65% stake in Seiyu and Rakueten's DX Solution unit owns a 20% interest, while Walmart retains a 15% stake in the retailer.
- KKR made its investment through the Asia private equity fund.
- In 2020, Seiyu reached its highest sales and profitability levels of the last decade, with net sales growing by 5.6% to JPY 785B. It produced an EBITDA margin of almost 5%.
- Seiyu's ownership confirmed the appointment of Tsuneo Okubo as CEO of Seiyu. He has held senior roles for national supermarket chains in his decades-long career in Japan's retail sector.
- Nikkei had reported on the talks between the companies in November 2020.