Extraordinary general meeting set for 13 February for BJC board decision
Thailand’s Berli Jucker (BJC) has moved to acquire wholesale distributor MM Mega Market Vietnam (MMVN) through an indirect transaction valued at US$717mn, according to a report by Vietnam Investment Review.
The publication cited the conglomerates filing to the Stock Exchange of Thailand that revealed BJC, through its subsidiary C-Distribution Asia, will purchase all 921.8mn ordinary shares in TTC Land International (Singapore) (TCCLI) from Golden Land International at a price of THB24.41 (US$0.78) each.
TCCLI, a corporate entity associated with the Thai-owned TCC Group, wholly owns MMVN and upon completion of the acquisition both would become subsidiaries of BJC.
BJC said the move would allow it to expand into Vietnam, establishing comprehensive retail and wholesale distribution channels in the fast-growing market. The deal will also likely see BJC improve its operational efficiency, strengthen regional bargaining power and diversify its product range. The company also sees potential to leverage MMVN’s digital platforms to enhance market reach and collect valuable consumer data.
An extraordinary general meeting is set for 13 February for BJC’s board of directors to decide on the acquisition and, if approved, the deal is expected to conclude in the second quarter of this year.
According to Vietnam Investment Review, business-to-business (B2B) accounts for around 55 per cent of MMVN’s revenue and the company aims to boost this to 60 per cent by 2030. MMVN is also expecting growth in its retail network, expanding from the 30 outlets in 2025 to 54 by 2030 including both large-format stores and smaller-scale models.
MMVN (formerly names Metro) was previously owned by German retailer Metro AG and prior to TCCLI’s acquisition in 2014 the company reported losses over several consecutive years. However, since then has shown positive signs and in the fiscal year of 2024, it reported a revenue of US$600mn and net profit of US$15.4mn.
