Japan: “Matsukiyo” in merger talks to create drugstore giant

Japanese drugstore giant MatsumotoKiyoshi Holdings announced it was starting talks to merge with rival Cocokara Fine, possibly creating the country’s biggest chain of discount pharmacies with nearly US$10 billion in annual sales.

Cocokara had considered a tie-up with another drugstore chain, Sugi Holdings, but chose an offer from MatsumotoKiyoshi instead, it said in a statement.

Known as “Matsukiyo,” MatsumotoKiyoshi started as a mom-and-pop pharmacy in the 1930s and has grown rapidly through aggressive store openings and acquisitions. It was a pioneer in drugstores’ sales of discount cosmetics, allowing consumers to more casually sample products.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.