J. Front Retailing buys its way into wine importing, acquiring Pieroth Japan
J. Front Retailing has agreed to acquire wine importer Pieroth Japan, pairing its 32 sales bases and roughly 300 tastings and events a year with Daimaru Matsuzakaya's department-store network, though the two sides have not disclosed what J. Front is paying.
J. Front Retailing said on 3 August it has agreed to acquire Claret Holdings, the parent of Tokyo-based wine importer Pieroth Japan, from investment firm Nihon Kigyo Seicho Toshi, according to a release distributed via PR TIMES. The two sides signed a stock-transfer agreement on 31 July, with the deal expected to close on 1 September; J. Front did not disclose an acquisition price.