M&A Deal Summary

Fortress Acquires Sogo & Seibu

On November 9, 2022, asset manager Fortress acquired retailer Sogo & Seibu from Seven & i for 1.5B USD

Acquisition Highlights
  • This is Fortress’ 1st transaction in the Retail sector.
  • This is Fortress’ 9th largest (disclosed) transaction.
  • This is Fortress’ 2nd transaction in Japan.

M&A Deal Summary
Date 2022-11-09
Target Sogo & Seibu
Sector Retail
Buyer(s) Fortress
Sellers(s) Seven & i
Deal Type Divestiture
Deal Value 1.5B USD

Target

Sogo & Seibu

Tokyo, Japan
Sogo & Seibu is a Japanese retailer that operates two department store brands; Sogo, and Seibu. The Company sells a variety of household goods and other products. Sogo & Seibu was formed in 2009 and is based in Tokyo, Japan.

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Buyer(S) 1

Buyer

Fortress

New York, New York, United States
Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.

DEAL STATS #
Overall 43 of 47
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
Country (Japan) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 9 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 Punch

Burton upon Trent, United Kingdom

Punch is a pub and bar operator in the United Kingdom, with around 1,300 leased pubs. Punch Taverns was formed in 1997 and is based in Burton upon Trent, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-31 Vice Media

Brooklyn, New York, United States

Vice Media is a media company that engages in print, event, music, online, television (TV), and feature film business activities in the United States and internationally. Vice Media was founded in 1994 and is based in Brooklyn, New York.

Buy -

Seller(S) 1

SELLER

Seven & i

Tokyo, Japan
Category Company
Founded 2005
Sector Retail
Employees77,902
Revenue 11.47T JPY (2024)
DESCRIPTION

Seven & i is a Japan-based holding company. The planning, management and operation of group companies centering on a wide variety of business operations, including convenience stores, general merchandise stores, department stores, food supermarkets, food services, financial services, and IT services . Seven & i was founded in 2005 and is based in Tokyo, Japan.

DEAL STATS #
Overall 1 of 1
Sector (Retail) 1 of 1
Type (Divestiture) 1 of 1
Country (Japan) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-02 Speedway

Enon, Ohio, United States

Speedway is a US convenience store chain with approximately 3,900 stores located in 36 states. The Company was formed in 1997 and is headquartered in Enon, Ohio.

Buy $21.0B
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