Tokyo, March 10 (Jiji Press)–Japanese restaurant chain operator Colowide Co. said Tuesday that it will acquire the operator of the Cafe Veloce chain for some 44 billion yen. Colowide plans to complete the purchase of all shares in C-United Co. from investment firm Longreach Group Ltd. on April 1 to make it a fully owned subsidiary. It aims to develop its cafe business into a new revenue source and generate synergies with its existing operations. Colowide is known as the operator of the Ootoya Japanese set meal restaurant chain as well as conveyor belt sushi, burger, grilled meat and other restaurants. C-United operated a total of 563 shops under the Cafe de Crie, Coffee-Kan and five other coffee chain brands across Japan as of the end of February. It is expected to post 35.8 billion yen in sales for the year ending in March. Established in 2021, C-United has taken on cafe businesses under Longreach Group. Although several investment funds were eager to buy the company, Colowide eventually won the race. END [Copyright The Jiji Press, Ltd.]
Colowide to Acquire Cafe Veloce Operator
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