Colowide to buy parent of Gyukaku restaurant chain

JIJI

Major restaurant chain operator Colowide Co. will acquire Rex Holdings Inc., which operates the Gyukaku barbecue restaurant chain, sources said Friday.

Yokohama-based Colowide plans to make the Tokyo-based Rex Holdings a subsidiary by acquiring an equity stake of about 66 percent. The decision will be announced soon.

Colowide runs the Amataro bar chain, a conveyor belt sushi restaurant chain, a steak restaurant chain and other eateries.

To maximize management efficiency, it sets up restaurants from several different categories on the same property.

Colowide aims to expand its earning capacity with the acquisition of Rex Holdings, which operates 1,205 restaurants, including the Gyukaku chain.

Since 2000, Rex Holdings has tried to acquire firms, including a convenience store chain, in an effort to diversify its business.

But it sold its convenience store chain unit, am/pm Japan Co., in 2009 and its high-end supermarket unit, Seijo Ishii Co., in 2011.