July 13, 2020
Japanese trading house Itochu will take full ownership of the FamilyMart convenience store chain in Japan, raising its stake from just 50.1% through a tender offer. The total cost of the buyout is about USD 5.4 billion. Itochu and FamilyMart will deepen their ties in procurement of food and consumer goods, as well as in areas such as customer data analysis and digital payments. FamilyMart had 16,613 stores in Japan as of end of May and serves more than 10 million customers a day.