Central Retail Takes Over 30 MaxValu Stores for Tops Expansion

Central Retail Takes Over 30 MaxValu Stores for Tops Expansion

Central Retail’s food division has agreed to acquire the company operating MaxValu in Thailand, with all 30 branches scheduled to become Tops stores from October 1. Central Food Retail signed an agreement on August 7 to purchase 100% of AEON Thailand’s common shares, with the acquisition being financed through the company’s own cash flow. Central Retail says the deal will strengthen its supermarket network across Bangkok and surrounding provinces while potentially adding around 900,000 customers to its business. MaxValu’s Thai operation has faced declining financial performance, with annual revenue falling from 4.441 billion baht to 4.053 billion baht while losses increased from 186 million to 266 million baht. Some analysts believe the larger standalone MaxValu locations could eventually be developed into broader commercial projects rather than simply being converted into conventional Tops supermarkets.