KKR to Sell Seiyu to Trial Holdings
03.17.25
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Simpson Thacher is representing KKR in the sale of Seiyu to Trial Holdings, Inc. The transaction is expected to close in the second quarter of 2025, subject to regulatory and customary closing conditions.
Simpson Thacher also represented KKR in its acquisition of a 65% majority stake in Seiyu from Walmart in 2021 and its acquisition of an additional 20% stake from Rakuten in 2023, taking KKR’s shareholding to 85%. As part of the transaction, Walmart will also sell its 15% stake to Trial.
Established in 1963, Seiyu is a nationwide supermarket chain in Japan with more than 240 retail units. Through its supermarket and hypermarket formats and Seiyu Netsuper delivery service, Seiyu offers customers a broad assortment including fresh food, general merchandise and apparel products across Japan. Trial is a distribution and retail business operator in Japan that operates a network of stores offering “everyday essentials” in Kyushu.
The Simpson Thacher team includes Noritaka Kumamoto, Jonathan Stradling and Daisuke Ueta (M&A); and Makiko Harunari and Atsushi Usui (Banking and Credit).