Godiva to Sell Asia-Pacific Operations to MBK Partners

Economy

Tokyo, Feb. 21 (Jiji Press)--Godiva Chocolatier said Wednesday it has agreed to sell some of its operations in the Asia-Pacific region, including Japan, to Asian private-equity fund MBK Partners.

The transaction is believed to be worth some one billion dollars.

The deal covers the sale of the Belgian company's retail and distribution operations in Japan, South Korea, Australia and New Zealand.

The sale, expected to be completed in the middle of this year, is part of moves by Godiva to review its global growth strategy.

In autumn last year, it was revealed that Godiva's Turkish parent, confectionery company Yildiz Holding, entered procedures to sell Godiva's assets in Japan.

[Copyright The Jiji Press, Ltd.]

Jiji Press