Thailand’s Berli Jucker Public Company Limited (BJC) will buy the wholesale business MM Mega Market Vietnam (MMVN) from Thai billionaire Charoen Sirivadhanabhakdi’s TCC group for 22.5 billion baht ($720 million).
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Customers in front of Mega Market center. Photo courtesy of Mega Market Vietnam |
According to a recent stock exchange filing cited by Forbes, BJC shareholders have approved the purchase, which will be financed through debt.
BJC, the consumer and retail arm of Charoen’s business empire, produces packaging and sells food and non-food consumer products, healthcare, and technical supply chain services.
MM Mega Market, a wholesale distributor with 33 branches throughout Vietnam, mainly serves business clients, including hotels, restaurants, catering businesses, and large offices.
Thapanee Techajareonvikul, CEO and President of BJC, said the timing of the acquisition is strategic, and it aims to unlock MMVN’s growth systematically and sustainably, as reported by the Nation Thailand.
The acquisition is part of Charoen’s broader strategy to streamline his business empire. In 2024, his flagship Singapore-listed Thai Beverage, maker of Chang beer, sold its stake in sister company Frasers Property and exited the real estate business, refocusing on becoming a pure play Southeast Asian food and beverage company.
Charoen, 81, and his family rank as the third richest in Thailand, with an estimated net worth of $12.8 billion, according to Forbes, as of Feb. 19.
Besides Frasers, its assets include hypermarket chain Big C Supercenter, Thailand’s largest drinks maker Thai Beverage and Bangkok-based developer Asset World Corp.
