Retail News CRM

Tag: OfficeMate

  • Thailand’s Central Group acquires OfficeMate

    Thailand’s Central Group acquires OfficeMate

    Central Retail (CRC) is to buy out COL Public Company, the parent company of Thai retail chains OfficeMate, B2S, and Meb E-Books.

    The deal with COL, which is estimated at US$390 million, will add the three brands to CRC’s existing retail portfolio and “strengthen Central Retail’s hardlines group” the company said in a statement. The move is part of the group’s strategy to expand its range of retail product categories, formats, and channels domestically and globally.

    COL is one of Southeast Asia’s largest office supplies, books, entertainment media, lifestyle products, and e-books retail business. The company’s board on Monday approved the terms of the takeover proposal which will now be put to a shareholders’ meeting. Once endorsed the company will be delisted from the Thai stock exchange.

    The company was incorporated in February 1994 by the Ounjai Family which had more than 40 years of experience in selling stationery and office equipment.

    “We are supremely confident that this plan to buy out the business and all the shares of COL will be mutually beneficial,” said Yo Phkasub, CEO of Central Retail. “It will enable both businesses to grow sustainably, and upgrade Thai retail for long-term national economic growth.”

    According to Central Retail, the deal will help the company to expand its customer base into new groups, particularly B2B and the younger customer segment. On the other hand, COL will enjoy greater exposure for its products through CRC’s omnichannel platform.

    The acquisition of 640 million COL shares is still subject to regulatory approval and expected to complete within the first quarter of next year, according to Yo.

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  • Thai online marketing firm COL to expand via M&A’s

    Thai online marketing firm COL to expand via M&A’s

    Thailand’s online marketing company COL Pcl has set aside 500 million baht ($14.12 million) to pursue acquisitions as it seeks to expand its customer base across Southeast Asia.

    COL is the operator of OfficeMate, B2S, Central Online Shopping, Mobile E-Books, and Cenergy Innovation.

    “The competition has become so fierce that many companies are finding it difficult to run their business. Hence, there are opportunities to acquire them, which will help us enlarge our customer base domestically and internationally,” Worawut Unjai, chief executive of the COL Group, said.

    The company is also shifting its focus on online business, which is expected to generate revenues of 800 million baht this year.

    Only last week, it informed the Stock Exchange of Thailand that it completed its entire investment disposal in Central Group Online Co, representing 49 per cent of total shares, to its subsidiary Cenergy Innovation Co, which is into retail online marketing and IT solution, for 147 million baht.

    It cited in the statement that the joint venture with Central Department Store, a leader in Thai retail, is key to gaining competitive advantage in the online retail market. It will be able to leverage Central’s expertise in inventory management, brand, and connections with suppliers and customers.

    “We will launch a new online shopping website in the third quarter. We will gather the goods from Central Group and its major partners and target to have 180,000 items in the website this year,” he cited.

    The COL Group posted 10.8 billion baht in total revenue in 2015, up 9.2 per cent from the previous year.

    Of that, 60 per cent was from OfficeMate and 37 per cent from B2S. Central Online made up for the remaining 3 per cent, which is being boosted to around 10 per cent of total revenue in 2016.

    He said, the group’s net profit was 394 million baht, thanks to its adjusted strategies and management policy for better efficiency.

    The group increased the number of products and services to address customers’ needs and catered to various businesses.

    COL Group expects to grow its revenue this year by 10 per cent to 11.9 billion baht despite lower consumer spending.

    OfficeMate is the first company in the group that has expanded into other countries and it would add branches in Vietnam, which will officially open this year.

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