FamilyMart in talks to buy Cocostore

FamilyMart Co. is in talks to buy Cocostore Corp., which operates convenience stores in central and western Japan, sources familiar with the matter said on Friday.

FamilyMart, Japan’s third largest convenience store chain, recently announced it is negotiating with the smaller rival operating Circle K Sunkus stores, Uny Group Holdings Co., in an attempt to obtain the number two position behind industry leader Seven-Eleven Japan Co.

If the integration is realized, FamilyMart’s acquisition of Cocostore will add momentum to moves toward the reorganization of the domestic convenience store industry.