Metro Vietnam plans to merge with Thailand’s Big C

• Metro Vietnam acquisition by Thai retail giant under scrutiny
• Thai retail giant Big C coughs up $22 mln in tax arrears
• Thai Central Group denies rumors that Chinese own Big C Vietnam

Chairman of TCC Holding, the owner of Metro Cash & Carry Vietnam, Charoen Sirivadhanabhakdi has created a storm by announcing a planned merger between his company and Thailand's Big C.

Mega Market Vietnam, the new name of Metro Vietnam since July this year, is planning to penetrate the Thai market using Vietnam’s strong wholesale network and Metro’s 19 wholesale centers.

The Thai billionaire plans to merge Metro Vietnam with Big C Thailand. Photo from Reuters

Berli Jucker, under TCC Holding, completed the acquisition of Metro Cash & Carry Vietnam in January 2016 for €655 million (nearly $740 million). After eight months under new management, TCC reported that the Thai company has shipped more than 100 tons of dragon fruit to Big C Thailand.

The Bangkok based corporation has also stepped up agricultural projects by supporting farmers. TCC said that it is scouting for suppliers of other farm products including avocados, star-apples and sweet potatoes.

Thailand’s second richest entrepreneur Sirivadhanabhakdi said Vietnam is still his favorite investment destination thanks to its industrious labor force, supportive government and valuable water resources for agricultural development.

In May 2016 TCC acquired a 25 percent stake in Big C Thailand from Central Group to take ownership of the retail chain after buying Metro Vietnam from Germany’s Metro Group.

Big C Thailand's parent company Berli Jucker expects to reach annual sales of THB100 billion ($3 billion) in 2016.

Related news

> Metro Vietnam acquisition by Thai retail giant under scrutiny

> Thai retail giant Big C coughs up $22 mln in tax arrears

> Thai Central Group denies rumors that Chinese own Big C Vietnam