RG Barry Brands (RGB) has been acquired by Marubeni Growth Capital US (MGCU), a subsidiary of Marubeni , marking MGCU's first investment in the US. This strategic move aims to accelerate RGB's growth through organic and inorganic means. RGB, led by CEO Bob Mullaney, has seen significant growth since his tenure began in 2017. The company manages brands like Dearfoams, Baggallini, Columbus Product Group, and Planet A. The deal, completed on June 4, 2024, will enable strategic investments and acquisitions to further develop RGB's brand portfolio. Blackstone exits its ownership, while Mill Road Capital retains a minority stake.
Marubeni Corporation and KYOCERA Corporation are set to initiate a Proof of Concept (POC) test for a smart checkout system utilizing KYOCERA's AI object recognition technology in Kanagawa, Japan, this summer. This development aims to enhance operational efficiency in supermarkets grappling with labor shortages. The system, designed to recognize multiple products at once, requires minimal installation costs, needing just a camera, PC, and display. Leveraging Marubeni's retail expertise, the POC seeks to pave the way for commercial deployment.