Don Quijote to acquire Times Supermarkets
HONOLULU – Don Quijote Holdings Co. Ltd. announced that an affiliate has executed a stock purchase agreement for the acquisition of QSI Inc., the operator of 24 supermarkets in Hawaii, including 17 Times Supermarket stores on Oahu, Maui and Kauai; five Big Save Markets on Kauai; and Shima’s Supermarket and Fujioka’s Wine Times on Oahu.
With three Don Quijote stores and two Marukai stores located on Oahu, Don Quijote has been providing groceries, household goods, electronics and other products and services to Hawaii residents since 2006.
“Hawaii is a very special place for our company and myself. For more than a decade, we have been committed to becoming a part of the community and establishing relationships through our Don Quijote and Marukai stores,” said Koji Ohara, president and CEO of Don Quijote Holdings Co. Ltd. based in Tokyo, Japan.
“We look forward to expanding our presence on Oahu, Maui and Kauai and will remain dedicated to providing outstanding goods and services for our loyal customers.”
Don Quijote’s immediate plan is to continue all of the acquired retail locations and retain all of the 1,600 associates currently employed by QSI Inc.
“The opportunity to welcome the Times Supermarket family of stores and their employees to our ‘ohana is exciting for us. We are confident that we will successfully work together, share ideas and learn from each other’s combined experiences to best serve Hawaii,” said Edwin Sawai, president of Don Quijote (USA) Co. Ltd. and Marukai Hawaii Co. Ltd.
“For more than 68 years, Times Supermarket has been a local favorite and pillar of Hawaii’s retail community. We look forward to continuing their history and success in the islands.”
The acquisition is scheduled to close in late third quarter of 2017 and will not affect daily store operations.
The Don Quijote Group has 354 retail and convenience stores internationally, including locations in Hawaii. They first entered the Hawaii market in 2006 with the acquisition of the former Daiei stores, later purchasing Marukai in 2013. Currently, Don Quijote and Marukai employ approximately 950 associates in Hawaii.
Times Supermarkets has been in business in Hawaii for over 68 years. What started off as a dream shared by two Okinawan immigrants working on Hawaii’s sugar plantations has grown to include 24 supermarket locations spanning 17 Times locations, five Big Save Markets, Shima’s Supermarket, and a fine wine and spirts shop, Fujioka’s Wine Times.