LOS ANGELES — As part of its long-term restructuring plan, Bally announced on Friday that it had inked a deal to buy back its Japan business from Itochu.
For his part, Bally CEO Marco Franchini said in a press release that the acquisition would allow the company to unify its brand positioning, and integrate its global strategies in the Japanese market.
“Over the last few years, bally International has achieved a spectacular turnaround and has enjoyed a marked improvement in performance and an expansion of its consumer base,” he said. “Now, with the buyback of Bally Japan, we can implement the same strategies within the Japanese marketplace, finally unifying Bally’s global presence.”
Terms of the financial arrangement were not disclosed.
Since 2002, Itochu has owned and operated 40 Bally stores in Japan.