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.ADVERTISING
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.
Central Retail Corporation Plc is part of Central Group owned by Chirathivat family, one of the richest families in Thailand.
Read more at Bangkok Post