POSTED: 07:41 a.m. HST, Jul 31, 2013
LAST UPDATED: 12:46 p.m. HST, Jul 31, 2013
Japan-based Don Quijote Co. is in talks to buy California-based Marukai Corp. USA.
The stock-purchase deal would have Don Quijote become the owner of 100 percent of the stock in Marukai. Marukai has stores in California and Hawaii.
“It’s not a done deal,” Marukai Operations Manager Wes Oshima told the Star-Advertiser this morning, but it is scheduled to be finalized Sept. 30, he said.
The officers of Marukai “are confident” that Don Quijote will continue the membership-store’s operations, “and we have told our employees that,” Oshima said.
On Oahu, Marukai has a Wholesale Mart on Kamehameha Highway, Marukai Market Place on Auahi Street, and formerly ran several 99 Cent Super Stores in various communities, among other retail concepts.
Don Quijote has stores in Honolulu, Pearl City and Waipahu, and closed its Kailua location to make way for a Target store that has yet to be built.