Food
Retailer Cocokara Fine may be acquired by its larger rival Matsumotokiyoshi Holdings to create the largest Japanese drugstore chain.
Should it proceed, the merger would create a discount-pharmacy chain taking an annual ¥1 trillion (US$9.4 billion) in revenues, significantly higher than current market leader Welcia Holdings.
Matsumotokiyoshi’s heavily discounted snacks, soft drinks and liquor have made it a tough competitor against other conventional retailers in the segment.
Cocokara has reportedly discontinued merger talks with another rival – Sugi Holdings, which owns the Sugi Pharmacy chain – in favour of achieving a deal with Matsumotokiyoshi.
