Bruce R. Bailey, president and CEO of Mitsuwa Corporation, which operates supermarkets under the trade name Mitsuwa Marketplace, announced Friday that Mitsuwa’s parent company, Wanoba Group Inc., has been acquired by Kamei Corporation of Sendai.
Mitsuwa is a major retailer of Japanese grocery products in the United States. It operates seven supermarkets in California as well as a market in the Chicago area and in Edgewater, N.J. The markets, which are the best-known Japanese markets in the U.S., provide not only groceries, but also have food courts and specialty shops featuring Japanese-themed products and services.
Kamei is a major Japanese corporation, listed on the Tokyo stock exchange. It has a variety of businesses, operated through subsidiaries in Japan and other countries. These include oil and gas storage terminals, gas stations, food distribution centers, pharmacies, markets, soft drink bottling companies and other businesses. Kamei currently has annual revenues of approximately $6.5 billion, and capital of $906 million.
Under the acquisition agreement, Mitsuwa Marketplace will continue to operate as it has in the past, and Bailey will remain as president and CEO.
The principals of each company say they are confident that the combination of Kamei and Mitsuwa Marketplace will strengthen both companies and will provide expanded opportunities for international trade and for increased U.S. employment.