Major convenience store chain FamilyMart Co. will acquire about 80 stores run by a subsidiary of Heiwado Co., a midsize supermarket chain operator based in Shiga Prefecture, the two firms announced Friday.
Higashi Kinki Chiiki Spar Honbu, wholly owned by Heiwado, operates 108 Spar convenience stores in Shiga, Fukui and Kyoto prefectures.
As competition among convenience stores is intensifying in the region, Heiwado has decided to withdraw from the industry by selling the 80 stores and closing the rest, said Yoshio Kumaki, a Heiwado managing director.
All 108 stores will be closed June 17, with the FamilyMart branches reopening by the end of August.
The deal will help FamilyMart strengthen its network of stores in the region, said Junji Ueda, a corporate officer at FamilyMart.
FamilyMart will pay 3 billion yen for the stores and spend about 1 billion yen on renovations, he said.