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Japan's Genki Sushi, Sushiro to merge -source
September 29, 2017 / 2:09 AM / 2 months ago

Japan's Genki Sushi, Sushiro to merge -source

TOKYO, Sept 29 (Reuters) - The owner of Japan’s restaurant chain Genki Sushi Co will buy a one-third stake in bigger rival Sushiro Global Holdings Ltd from private equity firm Permira, a person with direct knowledge of the deal said.

Permira, which bought Sushiro in 2012, will sell the stake to Genki Sushi owner Shinmei Co, said the person, asking not to be identified because he is not authorised to speak to media.

Shinmei will merge Sushiro with Genki Sushi, the person said.

A Permira official declined to comment on the sale, which was first reported by the Nikkei business daily on Friday.

Sushiro and Genki Sushi said in separate statements they were discussing the reported transaction at a board meeting on Friday. (Reporting by Junko Fujita; Editing by Chang-Ran Kim)

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