Hamburger Chain Lotteria to be Sold to Zensho

Economy

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Tokyo, Feb. 16 (Jiji Press)--Lotte Holdings Co. said Thursday it will sell all shares in its hamburger chain subsidiary Lotteria Co. to restaurant giant Zensho Holdings Co. <7550> on April 1.

The amount of the deal was not disclosed.

The Lotteria brand will be maintained for a certain period even after the share transfer.

Lotteria opened its first outlet in 1972. The chain had 358 outlets in Japan as of Jan. 1 this year.

The share sale is part of Lotte Holdings' review of its overall operations. The company has major confectionery maker Lotte Co. under its wing.

[Copyright The Jiji Press, Ltd.]

Jiji Press