Gelson’s Markets to be Acquired by Owner of Don Quijote, Marukai Stores

The upscale grocery store Gelson’s Markets is being acquired by Pan Pacific International Holdings, the parent company of Marukai Corp. and Tokyo Central.

Terms of the deal with TPG Capital in San Francisco — announced Tuesday, Feb. 23 — were not disclosed.

PPIH was founded over 40 years ago by Takao Yasuda, one of Japan’s wealthiest entrepreneurs worth an estimated $4 billion. The publicly-traded company operates 638 stores with 582 of them in Japan. It’s known for the popular Don Quijote brand in Hawaii and Japan.

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