Seven & i Holdings, a major distributor, holds nearly half of the shares of Francfranc, a subsidiary that sells furniture and miscellaneous goods, which has not been able to produce synergistic effects between companies. We have officially announced that we will sell more than 25% to investment funds.
According to the announcement, Seven & i has decided to sell more than 25% of its 49% stake in Francfranc, a subsidiary that sells furniture and miscellaneous goods, to the investment fund Japan Growth Investment Alliance. ..
The sale price will not be announced.
Seven & i has entered into a capital and business alliance with "Francfranc" eight years ago to strengthen its product lineup for young people and women, and has been promoting joint development of products and stores. It was not effective and was a problem.
Going forward, we plan to concentrate our management resources on our main businesses, such as the convenience store business in the United States, which we acquired with an investment of over 2 trillion yen.
On the other hand, the fund will hold 51% of the shares, including the portion acquired from the founder side of "Francfranc", and "Francfranc" will be led by the fund under the new management system. We are planning to promote digitalization such as strengthening the mail order site.