Thai supermarket chain Big C reportedly acquires HK-based AbouThai

Thai supermarket chain Big C Supercenter has reportedly acquired Hong Kong-based retail chain AbouThai and will rebrand all AbouThai physical stores to "Big C". Meanwhile, Big C's holding company will seek a dual listing in Hong Kong and Bangkok in the fourth quarter the earliest, according to SCMP.

Aswin Techajareonvikul, CEO and president of Big C Supercenter, told SCMP that the group would invest HK$158 million in the next three years to launch 25 stores each year and 99 stores by the end of 2026. 500 additional staff will be hired as well. Meanwhile, he didn’t disclose the acquisition price for AbouThai.

Techajareonvikul added that the group planned to have a dual listing in Hong Kong and Bangkok. According to the report, the group filed an application earlier this year with The Stock Exchange of Thailand (SET) to list Big C Retail Corporation, the holding company of the Big C Supercenter. Techajareonvikul expected the listings to take place in the fourth quarter the earliest. He also recently met with financial secretary Paul Chan and Hong Kong Exchanges and Clearing (HKEX) CEO Nicolas Aguzin respectively to discuss the group’s listing plan.

Operating around 2,000 retail stores under its brands in Southeast Asian markets such as Thailand, Vietnam and Cambodia, the launch of Big C in Hong Kong marks its first expansion city outside the region. Techajareonvikul said that while Hong Kong faced some challenges during the pandemic, it was able to recover quickly. He added that Hong Kong is a leading financial hub in Asia linking Southeast Asian markets with mainland China.

MARKETING-INTERACTIVE has reached out to AbouThai and Big C for a statement.

Established in 2015, AbouThai is a Thai lifestyle chain store, with its name representing “About Thailand”. AbouThai sources various products from Thailand and imports them directly to Hong Kong. Product categories include but not limited to herbal products and essential oils, fresh fruits and vegetables, snacks and beverages, chilled/frozen foods, seasoning, personal care and beauty products, furniture and household products. 

AbouThai operated 25 branches as of August 2022. In March of the same year, the first "ABT Convenience Store" was opened. 

Related articles:

Kering Beauté acquires fragrance label Creed in strategic move
Sega acquires Angry Birds' creator Rovio for US$774m
L'Oréal acquires Aesop for a whopping US$2.5 billion