Aeon Thailand to transfer 30 MaxValu stores, which will be rebranded as Tops
Central Retail has announced that its subsidiary Central Food Retail (CFR) has signed an agreement to purchase Aeon (Thailand) and its 30 MaxValu stores.
Thai multinational conglomerate reported the acquisition to the Stock Exchange of Thailand (SET) on 7 August and said all MaxValu stores will be rebranded as Tops following the completion of the sale.
“This transaction aligns with the company’s strategy to strengthen the Food business. It enables CFR to immediately expand its supermarket branch network and grow customer base by over 900,000 customers,” Central Retail said in its submission to the SET
“Furthermore, CFR will also secure ownership of high potential land and a Ready -to-Eat Processing Center, which elevates production capacity and enhances the development of ready -to-eat food products —creating product differentiation to better meet consumer demands.”
Central Retail currently operates over 700 Top outlets across Thailand in different store formats and platforms.
