Retail News CRM

Tag: TCC? thailand

  • Mega Market emerges from Thai investment

    Mega Market emerges from Thai investment

    Eight months after being acquired by TCC Thailand, Metro Cash & Carry Vietnam has undergone a range of changes, including a new name – Mega Market.

    Since taking over Metro, the Thai group has accelerated agricultural projects to support Vietnamese producers. In July, TCC started exported hundreds of tonnes of Vietnamese fruits and vegetables to Thailand through Big C Thailand. It has also been seeking other suppliers for such products as avocados, sweet potatoes and oranges.

    Mega Market now has 19 wholesale centres across Vietnam, with three each in Hanoi and Ho Chi Minh City.

    As the main shareholder of Big C Thailand (97.94 per cent), TCC Group has plans to merge Mega Market with the Thai supermarket.

    TCC Thailand chairman Charoen Sirivadhanabhakdi says Vietnam offers good resources for agricultural development.

    TCC Thailand paid US$704 million to acquire Metro Vietnam in January, buying Big C Thailand the following month for US$3.5 billion.

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  • Thailand’s TCC buys Metro supermarket

    Thailand’s TCC buys Metro supermarket

    Metro said TCC Land International Pte, Ltd, a subsidiary of TCC Holding Company Ltd, has acquired its complete operations in Vietnam for 655 million euros (US$706 million).

    In a press release, it said: “This results in a cash inflow of around 400 million euros [$432 million]. The payment has been already made.”

    Metro Cash and Carry Vietnam told Viet Nam News that under the new ownership the wholesaler would operate under the old name and management and continue to serve over a million professional customers with the same products and services.

    Metro came to Vietnam in 2002 and now has 19 stores around country with more than 3,300 employees.

    Over the years it has invested in the local trade infrastructure and food hygiene and safety, and trained more than 20,000 Vietnamese farmers and fishermen, helping them increase their yields and product safety.

    In August 2014 Metro announced it had agreed to sell to Berli Jucker (BJC).

    But last February BJC’s majority shareholder TCC replaced BJC as the buyer.

    BJC, a conglomerate with interests in multiple sectors including retail, will run Metro for TCC.