TOKYO -- Japan's major restaurant chain Zensho Holdings, operator of the Sukiya beef bowl chain, announced on Thursday that it will acquire Lotteria, a burger franchise held by Lotte Holdings.
Zensho plans to take over all of Lotteria's shares from Lotte Holdings on April 1 for an undisclosed amount. Lotteria owns the franchise to 358 burger restaurants in Japan. Lotte Holdings, which has been trying to restructure the struggling chain, said on Thursday, "We believe this is the best option for Lotteria to pursue new growth."
