The Maui News
Tokyo-based Don Quijote Holdings Co. has an agreement to purchase the operator of Times Supermarket, including the stores in Kihei and Honokowai.
Don Quijote, which runs three stores as well as two Marukai stores on Oahu, and Times operator QSI Inc. announced the stock purchase agreement Wednesday. The deal encompasses QSI’s 24 supermarkets in Hawaii, including 17 Times Supermarkets on Oahu, Maui and Kauai; five Big Save Markets on Kauai; and Shima’s Supermarket and Fujioka’s Wine Times on Oahu.
Don Quijote said it has been offering groceries, household goods, electronics and other products and services since entering the Hawaii market in 2006.
The acquisition is scheduled to close late in the third quarter and will not affect daily store operations, Don Quijote and QSI said.
The buyer’s immediate plan is to keep open all acquired retail locations and the 1,600 people employed by the Oahu-based QSI. There was no word from Don Quijote on Wednesday whether the names of the Maui stores would be changed.
“The opportunity to welcome the Times Supermarket family of stores and their employees to our ohana is exciting for us,” said Edwin Sawai, president of Don Quijote (USA) and Marukai Hawaii. “We are confident that we will successfully work together, share ideas and learn from each other’s combined experiences to best serve Hawaii.”
Koji Ohara, president and CEO of Don Quijote Holdings Co., said the company is looking to “expanding our presence on Oahu, Maui and Kauai.”
“For more than 68 years, Times Supermarket has been a local favorite and pillar of Hawaii’s retail community,” added Sawai. “We look forward to continuing their history and success in the islands.”
“This is a huge step for our business and will be good for our customers,” said John Quinn, president and CEO of QSI. “Today, we are combining two established kamaaina companies to create a powerful new brand in the local grocery industry.”
Times Supermarket first opened its doors in 1949, led by the sons of Okinawan immigrants Albert and Wallace Teruya, QSI and the Times website said. In 2002, 12 Times Supermarkets on Oahu were acquired by QSI, and in 2004, QSI acquired Fujioka’s Wine Merchants, which became Fujioka’s Wine Times.
QSI acquired Star Markets in 2009, adding five more locations – including the two on Maui. In 2011, QSI bought five Big Save Markets on Kauai.
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