Tokyo, Nov. 13 (Jiji Press)--Watami Co., a Japanese restaurant chain, is considering going private through a management buyout scheme, people familiar with the matter said Friday.
An asset management company of Miki Watanabe, founder, chairman and CEO of the operator of "izakaya" Japanese-style pubs, will launch a tender offer for the company soon, the people said.
By giving more flexibility to management, Watami aims to accelerate its shift to a structure not dependent on izakaya operations as more consumers, especially young people, stay away from alcohol.
The company has been working to expand its non-izakaya operations by acquiring the Japanese operations of the Subway sandwich chain in 2024 and operating boxed meal delivery services.
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[Copyright The Jiji Press, Ltd.]
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