Thailand retailer Big C Supercentre has acquired Cambodian convenience store chain, Kiwi Mart.
Although the acquisition was finalised on May 17, the value of the deal has not been made public yet. Kiwi Mart is a 24-hour convenience-store chain that sells a variety of products from local and international brands through 18 stores, 17 of them in the capital city, Phnom Penh.
Since 2019, Big C has operated two hypermarket stores in the country and plans further expansion.
Gary Hardy of Big C Supercentre described the investment as an “important opportunity” for both Big C and its parent firm, Berli Jucker, to expand its business in Asean.
“Big C realised an opportunity to expand our business to cover all areas of Cambodia via online and offline platforms, making our products easy to access and come closer to Cambodian consumers,” he said.
In order to double its retail business across Southeast Asia, parent company Berli Jucker, has disclosed plans to invest up to USD$1.7-$2 billion during a five-year business strategy.
During this period, the company will also open 2091 modern retail outlets across Southeast Asia. The company believes the investment will double its sales to $7.9 billion.