Big C bags Cambodia's Kiwi Mart
Deal comprises 18 convenience stores
Big C Supercenter Plc, a leading retail operator in Thailand, has acquired Kiwi Mart -- a convenience store chain in Cambodia -- via its Cambodian subsidiary to strengthen its retail business in the neighbouring country.
According to Gary Hardy, an adviser of Big C Supercenter, Big C Supercenter (Cambodia) reached an agreement to acquire Kiwi Mart in Cambodia last week.
The acquisition was effective as of May 17, but the value of the deal has not been disclosed.
"The acquisition of Kiwi Mart is an important opportunity for both Big C and its parent firm, Berli Jucker Plc, to expand business in the Asean region, including Cambodia," he said.
The deal allows Big C to own 18 Kiwi Mart stores in Cambodia, 17 of which are in Phnom Penh, with the other branch located in Kampot province.
Big C has had a presence in Cambodia since 2019, with the first Big C hypermarket opening in Poipet, with a total space of 8,000 square metres.
Currently, Big C operates two branches in Cambodia -- one branch of Big C Mini and one branch of Big C hypermarket.
Kiwi Mart was established in 2017 as a 24-hour convenience store, selling a variety of products, including French, Thai and local brands, targeting domestic and foreign customers.
"Big C realised an opportunity to expand our business to cover all areas of Cambodia via online and offline platforms, making our products easy to access and come closer to Cambodian consumers,'' he said.
Aswin Techachareonvikul, chief executive of Big C Supercenter, said Big C plans to continuously expand its branches in Cambodia to tap into the country's consumers whose purchasing power keeps increasing.
The company expects its business expansion in Cambodia to be able to create job opportunities for up to 1,200 local people over the next few years.
In March, Big C's parent company Berli Jucker unveiled plans to spend 60-70 billion baht under a five-year business plan running from 2022 to 2026 to double the size of its modern retail business across Southeast Asia with an anticipated doubling of sales to 270 billion baht.
Some 12-14 billion baht will be earmarked annually for the next five years as it plans to expand its business and develop an Asean trading platform, customer data platform, supplier management platform and product and service development platform to sustain its sales and profits.
Of the total, 70% of the budget will support retail business, while 30% is slated for packaging, consumer products and healthcare business.
The firm will open 2,091 modern retail stores across Southeast Asia during this period, increasing the number of its modern retail stores to 3,739 stores from 1,648 at present.