Japanese retail giant Aeon is exiting Thailand’s supermarket sector, selling its local supermarket business to Central Group as it shifts investment towards faster-growing markets in Southeast Asia.

According to Nikkei Asia, Aeon will transfer all shares in Aeon (Thailand) to Central Food Retail, the Central Group business behind the Tops supermarket chain, on September 30. 

Aeon operates around 30 supermarkets in Thailand under its MaxValu and MaxValu Tanjai banners. The company entered the Thai market in 1984 and had around 80 stores in 2016.

MaxValu and MaxValu Tanjai serve the same everyday shopping needs, but at different scales. The larger MaxValu stores, typically 1000-3000sqm, offer a broader selection of groceries and household goods.

Meanwhile, MaxValu Tanjai, whose name means roughly ‘instantly’ in Thai, operates in a more compact 300-800sqm format, putting convenience and speed at the core of the neighbourhood shopping experience.

The sale forms part of Aeon’s broader strategy to improve capital efficiency and focus investment on markets with stronger growth prospects.

Vietnam is a key beneficiary of the shift. In May last year, Aeon outlined plans to expand its Vietnamese network eightfold by 2030, targeting 100 general merchandise stores and large-format “super-supermarkets”, as well as 200 smaller grocery stores.