Tesco has boosted its presence in Japan with its second acquisition in less than a year.
The 27-strong Fre’c supermarket chain will complement c-store chain C Two-Network, also in Tokyo, which Tesco bought last July.
The combined business operates 104 small to medium-sized stores with sales topping £400m.
Fre’c, which made £146m last year, had good top line growth but was struggling with debts, said a Tesco spokesman.
The deal is conditional upon debt restructuring at Fre’c.
The 27-strong Fre’c supermarket chain will complement c-store chain C Two-Network, also in Tokyo, which Tesco bought last July.
The combined business operates 104 small to medium-sized stores with sales topping £400m.
Fre’c, which made £146m last year, had good top line growth but was struggling with debts, said a Tesco spokesman.
The deal is conditional upon debt restructuring at Fre’c.
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