Japanese retailer MaxValu’s stores in Thailand to drop name after 19 years
MaxValu is expected to stop trading under its name in Thailand on Sept. 30, as Central Food Retail prepares to convert all 30 of the Japanese supermarket chain’s branches to Tops.
Central Retail Corporation (CRC) announced plans to rebrand Japanese retailer MaxValu's stores in Thailand, a venture it acquired in August 2021. MaxValu, which operated in Thailand since 2007, was a subsidiary of AEON (Thailand), a company CRC recently purchased. The acquisition includes a significant customer base of over 900,000 consumers and ownership of land assets, as well as a ready-to-eat food processing center.
CRC intends to integrate the supermarkets into its Central Food Retail (CFR) operations and convert all branches to the Tops brand, aiming to enhance business prospects and efficiency. The decision to sell MaxValu comes as CRC seeks to capitalize on the growing middle-class market in Vietnam, where Asian retailers like AEON are intensifying their competition.
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