Hawaii-based Times Supermarkets is being sold to the Don Quijote Group for an undisclosed price.
QSI Inc., the operator of Times, said today that the company has agreed to sell its 24-store Hawaii supermarket operation to the Don Quijote Holdings Co. affiliate, which has 354 discount retail and convenience stores, including three Don Quijote stores and two Marukai stores on Oahu.
The sale will include all 17 Times Supermarket stores, five Big Save Markets, Shima’s Supermarket, and Fujioka’s Wine Times.
“This is a huge step for our business and will be good for our customers,” John Quinn, president and chief executive officer of QSI, said in a statement. “Today we are combining two established kamaaina companies to create a powerful new brand in the local grocery industry.”
Times, founded in 1949, was acquired by QSI in 2002. QSI continued to operate all 12 Times markets on Oahu that it acquired and in 2009 acquired five Star Markets that it converted to Times, increasing the number of to stores under the Times brand to 17. In 2004, QSI also acquired Fujioka’s Wine Merchants, which it continues to operate under the name Fujioka’s Wine Times; bought Shima’s Supermarket in 2008; and in 2011 purchased five Big Save Markets on Kauai.
Don Quijote said its immediate plan is to continue to operate all of the acquired retail locations and keep all of the 1,600 workers currently employed by QSI. The deal is scheduled to close in late third quarter of 2017 and will not affect daily store operations.
“Hawaii is a very special place for our company and myself,” Koji Ohara, president and CEO of Don Quijote Holdings Co., said in a statement. “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. 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 entered the Hawaii market in 2006 when it acquired the former Daiei stores, and then later purchased Marukai in 2013. Don Quijote and Marukai employ about 950 workers in Hawaii.
“The opportunity to welcome the Times Supermarket family of stores and their employees to our ohana is exciting for us,” Edwin Sawai, president of Don Quijote (USA) Co. and Marukai Hawaii Co., said in a statement. “We are confident that we will successfully work together, share ideas and learn from each other’s combined experiences to best serve Hawaii.”