Nakagawa Masashichi Shoten acquires Bagworks in first M&A

Nakagawa Masashichi Shoten, a long-established company founded in 1716, has completed its first M&A by acquiring all shares of Bagworks Co., Ltd., a bag manufacturer based in Toyooka, Hyogo Prefecture.

Bagworks, founded in 1954, specializes in functional professional bags for sectors such as postal, banking, and medical services. The two companies have collaborated since 2011 on brand development and distribution support. Under the new management, Bagworks will maintain its company name, brand, and manufacturing base in Toyooka.

The acquisition aims to implement a “relay-style business succession” model. Nakagawa Masashichi Shoten intends to transition management from an individual-led structure to an organizational one, while training new leaders within Bagworks and the Toyooka region to eventually hand over management to them.