Major supermarket operator LIFE CORPORATION has launched a tender offer for Hokuriku-focused ALBIS CO., LTD., potentially giving LIFE CORPORATION its first foothold outside the Kinki and Tokyo metropolitan areas if the offer succeeds.
Major supermarket operator LIFE CORPORATION launched a tender offer for ALBIS CO., LTD. on the 9th, and the offer is scheduled to run through 10 November. The tender offer price is ¥3,780 per share, and the company plans to invest up to ¥26.3 billion to acquire 83.38% of ALBIS CO., LTD.'s shares.
Mitsubishi Corporation, ALBIS CO., LTD.'s largest shareholder, is expected to continue holding the remaining 16.62% of the company's issued shares. Following completion of the tender offer, ALBIS CO., LTD. is expected to be delisted from the Tokyo Stock Exchange Prime Market.
LIFE CORPORATION operates a total of 323 stores in the Kinki and Tokyo metropolitan areas, while ALBIS CO., LTD. is said to operate a total of 68 stores across the 5 prefectures of Toyama, Ishikawa, Fukui, Gifu and Aichi.
Through the acquisition, LIFE CORPORATION aims to expand its store network and private-label distribution channels and improve operational efficiency, while also considering the standardisation of checkout systems and other systems. ALBIS CO., LTD. is expected to retain its store name.