Thai retail giant bets big on Việt Nam with MM Mega Market takeover

Thai retail giant bets big on Việt Nam with MM Mega Market takeover

The acquisition gives BJC control of MMVN’s nationwide network of 31 wholesale and retail branches across Việt Nam, as the Thai group seeks to expand its ASEAN retail ecosystem.

A MM Mega Market Vietnam distribution system centre. — Photo mmvietnam.com

 Thailand’s Berli Jucker Public Co Ltd (BJC) has completed the acquisition of MM Mega Market Vietnam (MMVN) in a deal valued at around 22.5 billion Thai baht (US$687 million), strengthening its retail and wholesale footprint in one of Southeast Asia’s fastest-growing consumer markets.

According to Thailand’s The Nation, the acquisition gives BJC control of MMVN’s nationwide network of 31 wholesale and retail branches across Việt Nam, as the Thai group seeks to expand its ASEAN retail ecosystem.

BJC CEO and President Thapanee Techajareonvikul said Việt Nam remained a high-potential market thanks to its strong economic outlook, favourable demographics and the rapid growth of modern trade.

She said the deal would create long-term synergies between BJC’s operations in Thailand and Việt Nam, particularly in procurement, private-label products, supply-chain management and regional sourcing.

The transaction was carried out through C-Distribution Asia Pte Ltd, an indirect BJC subsidiary, which acquired all shares in TCC Land International (Singapore) Pte Ltd – the company that owns MM Mega Market Vietnam.

Both BJC and MM Mega Market Vietnam are part of the business ecosystem of Thai billionaire Charoen Sirivadhanabhakdi’s TCC Group.

The move comes as Việt Nam’s retail sector continues to show strong growth momentum.

BMI, a Fitch Solutions company, forecast real household spending in Việt Nam to rise 6.8 per cent year-on-year in 2026, reaching nearly VNĐ3.9 quadrillion at 2010 prices.

BMI also noted that nominal retail sales in March were about 70 per cent higher than pre-pandemic levels, while real retail sales were 35 per cent above 2019 figures.

According to the research firm, rising purchasing power, a tight labour market and strong tourism recovery were supporting domestic consumption, despite global trade uncertainties and inflation risks.

Thailand has been one of the largest foreign investors in Việt Nam’s retail sector in recent years, with major Thai groups expanding through supermarket chains, consumer goods distribution and wholesale operations. 

Bizhub