Yildiz Holding is reportedly exploring a sale of its Japanese Godiva business in a deal that could fetch around $1.5 billion, according to people familiar with the matter, reports Reuters. Yildiz noted that Japan is one of its most successful regions and continues to grow. Godiva's Japanese business has revenue of around $350 million a year.
One source claims Yildiz may look to use the Japanese sale proceeds to invest in other markets. Rival confectioners, retailers, or private equity funds could be interested in buying Godiva's Japanese business, one of the sources said, noting that the business could also attract interest from diversified Japanese trading groups which include Mitsubishi and Itochu.
Japan is the sixth-biggest chocolate market in the world, according to Euromonitor International. With estimated 2018 retail sales of $5.2 billion, Japan accounts for nearly 5 percent of the world's total, according to the report. Full Story
Related: Godiva Looks Beyond Amazon for Online Sales; Godiva Launches Mexican Single Origin Chocolate Line.
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