中川政七商店 Completes First M&A Since Founding with Acquisition of Toyooka Bag Manufacturer in Hyogo

中川政七商店 (Nara), which produces lifestyle goods centered on traditional crafts, announced that it will acquire all shares of バッグワークス, based in Toyooka, Hyogo, and succeed to its business. The acquisition price was not disclosed, and the share acquisition was completed on 21 August. Ogino Yu (荻野祐), the company’s executive vice president, became the new representative director while retaining his existing position.

Founded in 1954, バッグワークス is a bag manufacturer that produces and sells commercial-use bags and bags under the “BAGWORKS” brand in Toyooka. As former representative director Takashima Shigehiro (高島茂広) faced a succession issue, the company had identified the development of a successor structure as a priority.

中川政七商店 had deepened its relationship with バッグワークス over many years through management support and brand development. Its employees had entered Toyooka and worked to advance management, production control, new product development and expansion of sales channels. Through the acquisition, 中川政七商店 aims to strengthen its support structure for craft manufacturers.

中川政七商店 has set out a policy of revitalizing Japanese craftsmanship as its vision and has also pursued management support through capital investment. Going forward, it is expected to seek business expansion by leveraging the management resources of affiliated companies.