Chateraise Buys Time-Honored Confectionery Seller Kameya Mannendo
Kofu, Yamanashi Pref., Jan. 25 (Jiji Press)--Chateraise Holdings said Monday that the Japanese maker of Western sweets has acquired all outstanding shares in time-honored confectionery seller Kameya Mannendo and its manufacturing affiliate.
The share purchases were made on Jan. 15. Chateraise, based in Kofu, the capital of Yamanashi Prefecture, west of Tokyo, aims to expand sales by capitalizing on Tokyo-based Kameya Mannendo's know-how on producing well-known "wagashi" Japanese sweets. Chateraise did not disclose the value of the share acquisition deal.
Kameya Mannendo, founded in 1938 and known for its Navona brand, has a total of about 30 directly run stores in Tokyo and Kanagawa Prefecture, adjacent to the Japanese capital, while Chateraise operates some 650 outlets in total in and outside of Japan.
The companies will jointly develop new confectionery products while seeking to reduce costs through joint procurement of ingredients and mutual use of production bases. Jobs of some 300 Kameya Mannendo employees will be maintained.
After opening the first Kameya Mannendo outlet in Yamanashi in fiscal 2021, Chateraise aims to promote franchise operations of the chain across Japan.
[Copyright The Jiji Press, Ltd.]