Berli Jucker Public Company Limited acquires MM Mega Market Vietnam

Berli Jucker Public Company Limited (BJC), the Thai conglomerate, has announced its intention to acquire Vietnam's wholesale retailer MM Mega Market Vietnam (MMVN) in a deal valued at approximately $723 million. BJC disclosed the transaction details in a filing to the Stock Exchange of Thailand, marking a strategic expansion into Vietnam's lucrative wholesale market.

The acquisition involves BJC purchasing 921.8 million ordinary shares in TTC Land International (Singapore) from Golden Land International at a price of 24.41 Thai baht per share. This transaction transfers ownership of MMVN to BJC, as TTC Land International wholly owns the Vietnam-based wholesale distributor. Upon closing, MMVN and its parent company will become subsidiaries of BJC.

This transaction allows BJC to capitalize on Vietnam's robust market growth by expanding its retail and wholesale distribution network in the country. MMVN, which operates 30 branches across Vietnam, focuses primarily on serving professional business customers. BJC aims to leverage this acquisition to streamline operations, enhance bargaining power regionally, diversify its product offerings, and further develop digital platforms to gather consumer insights and extend market presence.

The wholesale retail landscape in Vietnam is becoming increasingly competitive. As BJC integrates MMVN, it is positioned to strengthen its bargaining power in the Southeast Asian market. MMVN currently generates 55% of its revenue from business-to-business transactions and plans to increase this contribution to 60% by 2030. The company also intends to expand its store network to 54 outlets by the same year.

To finance the deal, BJC will utilize loans from financial institutions and potentially issue debentures, aligning with its liquidity strategies. The acquisition awaits the approval of BJC's board and shareholders, with an extraordinary general meeting scheduled for February 13. If approved, the deal is expected to be finalized by the second quarter of this year. Upon completion, BJC anticipates a significant uplift in MMVN's after-tax profits, forecasting an increase from 580 million baht in 2025 to approximately 1.2 billion baht by 2030.