Aeon sells Thai supermarket business to Central Retail

Aeon is shifting its strategic focus toward the Vietnamese market following the sale of its supermarket business in Thailand. The Thai operations, which peaked at nearly 80 stores in 2016, have been sold to the Thai retail conglomerate Central Retail.

Central Retail’s food division, Central Food Retail, is expected to finalize the acquisition of all shares in Aeon Thailand—the operator of the MaxValu and MaxValu Tanjai chains—by the end of next month. As part of the transition, the 30 supermarkets involved in the deal will be converted into the Tops brand. Aeon Thailand currently holds a registered capital of approximately THB890 million (US$27 million).