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Thai retail powerhouse CP Axtra has secured a deal to acquire the Malaysian supermarket operator, The Food Purveyor, for a sum of US$421.6 million. The Food Purveyor’s Market Presence The Food Purveyor boasts a wide range of premium grocery brands under its…
After more than a decade of absence, Dutch wholesale retailer Makro is poised to make a comeback in the Philippine market. This return is made possible through an alliance between Thailand’s CP Axtra and Ayala Corporation. New Business Venture The…
A recent Facebook post by Jonny Lieu—who claims to be a former C.P. employee—has ignited significant concern regarding the safety of meat products produced by C.P. Vietnam, a major player in the country’s meat industry. The post, which circulated widely,…
Thai retailer CP All has appointed Yuthasak Phoomsurakul as its new CEO of operations, overseeing the company’s network of more than 11,000 7-Eleven stores. Phoomsurakul started his career with the company as the deputy MD of marketing and product management…
CP All Plc, the operator of 7-Eleven convenience stores, plans to spend 11.5-12 billion baht this year to expand its business. Kriengchai Boonboapichart, the company’s chief financial officer, said 4-4.1 billion baht of total spending is for investment in new…
Thailand’s CP Group is taking the 7-Eleven convenience-store chain into Laos after winning franchise rights for the country. The first 7-Eleven store in Laos will be opened in the capital city, Vientiane in 2022. “With its remarkable success in Thailand, I…
Thailand’s CP Group will launch 7 Eleven Cambodia next year after winning the franchise rights for the country. CP Group, which operates 7-Eleven in Thailand, will run the business via its local subsidiary. The first outlet is expected to open in Phnom Penh.…
Tesco has accepted a US$10.6 billion bid for its Asian businesses from a consortium of companies controlled by Thai billionaire Dhanin Chearavanont. The deal, which remains subject to regulatory approval and Tesco Group shareholder approval, will be completed…
Bangkok’s massive IconSiam development will open on November 9, its developers have confirmed. The US$1.67 billion complex being constructed on a 400-metre-long stretch of the Chao Phraya River will feature 14 flagship stores of internationally renowned…
Thailand conglomerate Charoen Pokphand (CP) Group plans to invest Rs1000 crore (US$157 million) over the next five years to open Siam Makro wholesale stores in India. Siam Makro, the company’s retail arm, will open 15 wholesale cash-and-carry stores in India,…
Revenue fell by 6.3 per cent for lifestyle retailer CP Lotus Corporation for its first half, dipping by RMB337.1 million (US$50.5 million) to RMB4.9 billion. It says the decrease was mainly the result of a 9.1 per cent decline in same-store sales, cushioned…
The Chearavanont and Chirathivat families are among the 50 richest Asia families in 2016 as ranked by Forbes Asia magazine. Families in the top five of this year’s list are in businesses that span technology, livestock, real estate and oil and gas, the…
Siam Makro, which runs the Makro cash-and-carry store chain, has clinched a 3-billion-baht (US$85.75 million) deal to acquire four food companies. Through its wholly owned subsidiary Siam Food Services, Siam Makro has entered into an agreement to acquire an…
Sales have tumbled at everything except one of Thailand’s prominent supermarkets as the most terrible drought season in 10 years strikes at the heart of the cultivating sector – the foundation of the rustic economy – and disappoints arrangements to open more…
Thailand’s retail company CP All Plc has earmarked THB14 billion (USD432.6 million) to expand its convenience and cash-and-carry store operations this year on the back of economic recovery and high consumer spending power. Of the total budget, THB9 billion…
