Central Retail to acquire MaxValu Thailand
4 Articles
4 Articles
Central Retail to acquire MaxValu Thailand
Central Retail Corporation Plc (CRC) has agreed to acquire AEON (Thailand) Co Ltd, the operator of 30 MaxValu supermarkets in Thailand, in a move aimed at strengthening its food retail business and expanding the footprint of its Tops supermarket chain.
(Dan Tri Newspaper) - After more than 40 years of presence, Aeon has officially withdrawn from the Thai supermarket market due to fierce competition. The company will focus its investment on Vietnam - Southeast Asia's number one key market.
AEON will withdraw from its supermarket business in Thailand after selling the operator of the MaxValu chain to Central Retail. The Japanese retailer plans to prioritize allocating approximately 60% of its ASEAN investment budget to the Vietnamese market.
Central Group has informed the Stock Exchange of Thailand that it has closed the deal to acquire all of MaxValu's operations in Thailand, and will convert all 30 branches into Tops supermarkets.
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