Pico acquires Nguyễn Kim from Central Retail

Pico acquires Nguyễn Kim from Central Retail

The transaction marks a significant milestone in Central Retail’s investment portfolio restructuring strategy, aligned with its objective of sustainable development and long-term growth in the Vietnamese market.

A Nguyễn Kim electronic retail store. — Photo nguoiquansat.vn

Central Retail Corporation officially announced the signing of a definitive agreement to divest its stake at Nguyễn Kim - electronics brand in Việt Nam through the transfer of its entire shareholding to Pico Holdings JSC, a company operating in the consumer electronics and home appliances retail sector.

The transaction marks a significant milestone in Central Retail’s investment portfolio restructuring strategy, aligned with its objective of sustainable development and long-term growth in the Vietnamese market.

It also forms part of the group’s broader efforts to optimise its business portfolio in Việt Nam by reallocating resources to enhance operational efficiency, accelerate business expansion, and create sustainable added value for its two core business segments: food retail and real estate/shopping malls.

Once Việt Nam’s first authorised electronics retailer and at one time the country’s largest, Nguyễn Kim officially partnered with Power Buy, a member of the Central Retail Group, in 2015 after selling a 49 per cent stake to the Thai company.

Companies affiliated with Central Group went on to acquire the remaining 51 per cent stake in 2019, making the Nguyễn Kim a full member of the Central Group. 

Bizhub