IMAP is pleased to announce that SANKI SHOJI CO.,LTD. has acquired the entire share capital of Memo’s Co., Ltd. Terms of the transaction were not disclosed.
SANKI SHOJI imports, distributes and runs retail operations for fashion goods, primarily from Italy and other European countries. It has an annual turnover of over $80 million and manages some 30 global fashion retails brands in Japan, including Old England and Hydrogen.
Memo’s imports Italian wine, pasta, olive oil and fashion clothing. The owner was looking to retire but did not want to sell to direct competitors.
IMAP Japan (Pinnacle) acted as exclusive financial advisor to SANKI SHOJI throughout the acquisition process. The team suggested the target to SANKI SHOJI, proposing the company use its experience in Italian goods and diversify its operations into the Italian food business, where Memo’s is strong. Pinnacle also helped Memo’s owner understand the benefits of his company operating as part of the SANKI SHOJI group.
IMAP closed 193 M&A transactions valued at over $7.0 billion in 2020, down from the 7 year high of 235 deals closed in 2019.
GMD holds 12 food retail stores in the Azorean Autonomous Region, on the São Miguel, Santa Maria and Pico islands, and 1 wholesale cash and carry store on São Miguel island.
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