Ain to Acquire Francfranc

Economy

Sapporo, July 4 (Jiji Press)--Japanese drugstore chain Ain Holdings Inc. said Wednesday that it has agreed to acquire lifestyle retailer Francfranc Corp. for 49.9 billion yen.

Ain will acquire all outstanding shares in Francfranc from companies including retailer Seven & i Holdings Co. in late August.

Ain runs Ainz & Tulpe stores selling cosmetics and drugs, while Francfranc sells interior goods and sundries, mainly targeting women in their 20s and 30s.

In a statement, Ain said that it and Francfranc are complementary in terms of product lineups and retail categories. The acquisition will "generate synergies by leveraging the strengths of both companies," Ain said.

The two companies will display their respective in-house products at their stores and share their product development know-how, Ain said.

[Copyright The Jiji Press, Ltd.]

Jiji Press