Retail in Asia

In Shops

FamilyMart, Uny agree all-stock merger

FamilyMart Co. has agreed to buy Uny Group Holdings Co., the operator of the Circle K and Sunkus chains, creating Japan’s second-largest convenience store operator.

It will be an all stock transaction valuing the company at about JPY171 billion (USD1.43b).

The deal pushes FamilyMart past rival Lawson Inc. and leaves it as the country’s biggest chain after Seven & I Holdings Co.’s 7-Eleven. The companies are seeking economies of scale as an aging and declining population undermines growth in the retail industry.