Tesco Acquires C Two-Network Co.

C Two-Network Co. Ltd. is a food retailer operating 78 stores together with some wholesaling activity. C Two-Network operations are mainly in the Tokyo metropolitan area. C Two-Network was founded as a wholesale business. In 1994, using its previous experience and know-how C Two-Network entered the Japanese food retail sector. C Two-Network trades under the brand names Tsurukame, Tsurukame Land, Foodlet and Kamechuru. It now operates 78 stores, many of which are in the Tokyo metropolitan area. Food retail operations now account for 87% of sales (including Foodlets). With stores ranging from 100sq metres-1000sq metres, C Two-Network's focus is on the retailing of packaged foods (grocery and refrigerated) through supermarkets with tenant fresh food operators. Its consistent strength in product procurement has allowed it to increase both revenues and profits for 11 consecutive years.