Don Quijote Co. completes deal for Daiei stores
Don Quijote Co. Ltd. has completed its acquisition of Daiei Inc.'s four stores in Hawaii, but it will be some time before any changes become apparent to store customers.
The transaction, announced by Kozo Yamagishi, president of Daiei (USA) Inc., is Don Quijiote's first U.S. venture. The Tokyo-based chain owns 115 stores in Japan that grossed about $2.1 billion in sales last year.
"The new owner wants to assure the people of Hawaii that no sudden or drastic changes will be made to the stores, merchandise or operations," Yamagishi said in a written statement. "You will not see any difference when you enter the Daiei stores after the sale."
While Daiei (USA) Inc. will change its name to Don Quijote (USA) Co. Ltd., the former Daiei stores will not be rebranded immediately, since the new owner is still selecting a new name and logo. In time, Don Quijote may make physical improvements to the stores, introduce operational changes and make different merchandise available, Yamagishi said.
"Don Quijote takes this first step into Hawaii and the United States in the hope that in time it can become a good member of the Hawaii community and continue to provide Hawaii's people with the kinds of quality merchandise that its people want, at a fair price -- but with a Don Quijote flair or twist, by adding new and exciting choices, merchandise and shopping experiences," Yamagishi said.
No Hawaii employees have lost their jobs or positions because of the change in ownership and the entire local management team has decided to stay with the new company, he said.