Life Corporation plans to acquire Albis, Hokuriku's leading company, through a tender offer worth up to ¥26.3 billion and make it a consolidated subsidiary. Negotiations over the offer price proved difficult, with Mitsubishi Corporation, the largest shareholder of both companies, serving as the point of contact.
Life Corporation will acquire Albis, the leading company in Hokuriku. The tender offer will be conducted with an investment of up to ¥26.3 billion, and Life Corporation plans to make Albis a consolidated subsidiary.
Life Corporation operates mainly in the Tokyo metropolitan and Kinki regions and has strengthened its food procurement capabilities, including by making a company that collects organic produce a subsidiary. The acquisition is positioned as an expansion into a peer company.
Negotiations over the acquisition price were reportedly difficult, and Mitsubishi Corporation was reported to have served as the point of contact in the acquisition talks as the final offer terms were determined.