Shopping centre operator Central Retail Corporation has bought 100% of Family Mart, one of Thailand’s major convenience store chains, as it “moves forward to develop a new business model to cater to modern consumers”. CRC’s chief executive officer says the acquisition will strengthen Central’s hold on the food market and convenience store business in Thailand, which is burgeoning.
Since 2012, CRC has partnered with Japan Family Mart with its subsidiary SFM Holdings holding a 50.65% stake and Robinson Plc holding a 0.35% stake in Central Family Mart Ltd, the local operator of the Family Mart chain in Thailand. Yesterday’s acquisition saw CRC snap up the remaining 49% from the Japanese partner making it the sole owner of FamilyMart’s Thailand operations.
A spokesman says that over the past 8 years, CRC has been working to improve the franchise’s business model and expand its product offering, as well as its domestic presence.
“Family Mart has become a destination with ready-to-eat meals, beverages, fresh coffee and open spaces for people to come mix and mingle 24 hours a day. 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.”
“The acquisition of Family Mart 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.”
Earlier this year, Family Mart introduced 24/7 coin washing machines to cater to consumers’ busy lifestyles. Recently, it also launched “Food Drink Container Mart” machines, as well as vending machines to offer more convenience to consumers.
As consumers today demand faster services, Family Mart has also partnered with Grab Thailand to allow customers to have items delivered using the GrabMart application.
Courtesy: Published at The Thaiger on May 28, 2020 by The Nation