Seiyu is a supermarket chain in Japan. Credit: Karolis Kavolelis/Shutterstock.

American private equity company KKR is contemplating the divestment of its majority stake in Seiyu, a Japanese supermarket chain, as reported by Nikkei.  

The process to transfer ownership has been initiated, with leading domestic retailers Aeon, Pan Pacific International Holdings — the parent company of discount store operator Don Quijote — and Trial Holdings signalling their interest alongside unnamed investment entities. 

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KKR plans to decide on the buyer by February 2025, with the deal worth hundreds of billions of dollars according to Reuters. 

Seiyu, with a network of 240 outlets across Japan, transitioned from being an arm of the global retail giant Walmart when KKR acquired a controlling interest in 2021.  

In 2023, KKR reached an agreement with Rakuten whereby a fund managed by KKR would acquire Rakuten’s stake in Seiyu. As a result, KKR raised its ownership in Seiyu from 65% to 85%. 

KKR’s stake now stands at 85%, with Walmart maintaining a minority share of 15%. 

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Seiyu has made no specific comment.

The potential sale surfaces at a time when Japanese supermarkets are navigating a challenging landscape marked by fierce competition.  

In related industry movements, an Aeon subsidiary has recently absorbed a Kanto region-based supermarket chain to bolster its market presence. 

Seven & i Holdings, the Japanese parent of the 7-Eleven convenience store chain, is working on the sale of an intermediary holding company that manages Ito-Yokado. 

Seven & i also received a takeover offer from Canadian rival Alimentation Couche-Tard (ACT) in 2024.