Central Retail Corporation Plc (CRC) has acquired 100% of the shares of FamilyMart, a major convenience store chain, as it moves forward to develop a new business model to cater to modern consumers.
According to the chief executive officer of CRC, Yol Phokasub, the acquisition will strengthen Central Retail's hold of the food market and convenience store business in Thailand, which continues to thrive.
CRC has partnered with Japan FamilyMart Co (JFM) since 2012, with its subsidiary SFM Holdings holding a 50.65% stake and Robinson Plc (RBS) holding 0.35% stake in Central Family Mart Ltd (CFM), the local operator of the FamilyMart chain in Thailand.
Yesterday's acquisition saw CRC acquire the remaining 49%, or 5,757,500 shares from the Japanese partner -- making it the sole owner of FamilyMart's operation in Thailand.
Mr Yol said that over the past eight years, CRC has been working to improve the franchise's business model and expand its product offering, as well as its domestic presence.
"[FamilyMart] has become a destination with ready-to-eat meals, beverages, fresh coffee and open spaces for everyone to come mix and mingle 24 hours a day," Mr Yol said.
"Currently, FamilyMart has 1,000 stores nationwide, and we plan to continue expanding our stores, as we are committed to investing for our future growth."
Mr Yol said that the acquisition of FamilyMart is in line with CRC's strategy to strengthen its retail and service platform, reaffirm our leading position in retail business, as well as to increase our offering of full-scale services through customer-centric omni-channels, he said.
Earlier this year, FamilyMart also introduced 24/7 coin washing machines to cater to consumers' busy lifestyle. Recently, it also launched Food Drink Container Mart machines, as well as automated vending machines to offer more convenience to consumers.
As consumers today demand faster services, FamilyMart has also partnered with Grab Thailand to allow consumers to purchase items and have them delivered using GrabMart application.