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Business deals

Don Quijote eyes 190 more discount stores with Uny purchase

Deal will create Japan's fourth largest retailer

Discount store operator Don Quijote is known for its flashy stores. (Photo courtesy of Don Quijote)

TOKYO -- Japanese discount seller Don Quijote Holdings is closing in on an agreement to take over all of Uny, the operator of a chain of general merchandise stores, in a deal that would create the country's fourth-largest retailer.

Since August 2017, Don Quijote has owned 40% of Uny through a capital and business tie-up with parent FamilyMart Uny Holdings. FamilyMart Uny will sell the remaining 60% stake to Don Quijote, and focus on running its convenience stores in the FamilyMart unit. Don Quijote and FamilyMart Uny will continue their partnership after the acquisition, whose price has not been disclosed.

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