Olympic Group / Miuraya

IMAP is pleased to announce that Japanese listed Olympic Group Corporation has acquired all the shares of Miuraya from Private Equity Fund Marunouchi Capital.

Headquartered in Tokyo, Olympic Group operates four types of businesses; grocery stores, discount stores, hyperstores (a combination of food and discount store), and home centers. It adopts a dominant strategy of concentrating store openings in the Tokyo metropolitan area, including through M&A. IMAP Japan CEO Ikuo Yasuda has built up a good relationship with the founder, Mr. Kanazawa, over many years and knows its acquisition needswell.

Miuraya, which is celebrating its 100th anniversary in 2024, operates supermarkets in Tokyo. The company operates stores primarily in high-end residential areas, with a unique product lineup (similar to Trader Joe’s in the USA) and high average customer spend. Miuraya was originally a subsidiary of Japanese listed Inageya, but due to under performance, PE fund Marunouchi Capital acquired its shares. The fund succeeded in rebuilding the business, and then initiated a sale process.

The team from Pinnacle Inc. – IMAP Japan, led by Ikuo Yasuda?and Keita Suzuki, exclusively advised Olympic Group throughout the entire process. This deal resulted in competitive bidding because of the target’s superior locations and was brought to success through smooth negotiation, appropriate valuation, and close communication with Olympic, DD advisors, and the seller’s financial advisor.