Don Quijote to Acquire Times SupermarketsJune 28, 2017, 12:17 PM HST · Updated June 28, 10:10 PM 0 Comments
Don Quijote Holdings Co., Ltd. announced today that an affiliate has executed a stock purchase agreement for the acquisition of QSI, Inc., the operator of 24 supermarkets in Hawaii including 17 Times Supermarket stores on Oahu, Maui and Kauai; five Big Save Markets on Kauai; and Shima’s Supermarket and Fujioka’s Wine Times on Oahu.
With three Don Quijote stores and two Marukai stores located on Oahu, Don Quijote has been providing groceries, household goods, electronics and other products and services to Hawaii residents since 2006.
“Hawaii is a very special place for our company and myself. For more than a decade, we have been committed to becoming a part of the community and establishing relationships through our Don Quijote and Marukai stores,” said Koji Ohara, president and CEO of Don Quijote Holdings Co., Ltd. based in Tokyo, Japan. “We look forward to expanding our presence on Oahu, Maui and Kauai and will remain dedicated to providing outstanding goods and services for our loyal customers.”
Don Quijote’s immediate plan is to continue all of the acquired retail locations and retain all of the 1,600 associates currently employed by QSI, Inc.“The opportunity to welcome the Times Supermarket family of stores and their employees to our ohana is exciting for us. We are confident that we will successfully work together, share ideas and learn from each other’s combined experiences to best serve Hawaii,” said Edwin Sawai, president of Don Quijote (USA) Co., Ltd. and Marukai Hawaii Co. Ltd. “For more than 68 years, Times Supermarket has been a local favorite and pillar of Hawaii’s retail community. We look forward to continuing their history and success in the islands.”
The acquisition is scheduled to close in late third quarter of 2017 and will not affect daily store operations.