Sukiya beef bowl chain’s operator, Zensho Holdings, is to acquire burger franchise Lotteria Japan from Lotte Holdings for an undisclosed sum.
Zensho Holdings said it has decided to acquire the shares based on the judgment that the synergistic effect of its mass merchandising system and wide range of food business will contribute to the future expansion and development of Lotteria’s business. The deal is part of an operational restructuring by South Korea’s Lotte Holdings.
Entering Japan in 1972 with the first store opened in Tokyo’s Nihonbashi, Lotteria had 358 stores across the country as of 1 January. The deal is expected to be completed on 1 April.
