Key facts
- Aeon is selling its Thai supermarket subsidiary, MaxValu, to Central Group.
- Central Food Retail, a subsidiary of Central Retail Corporation, signed the share purchase agreement on August 7, 2026.
- The acquisition includes 30 MaxValu supermarkets and a ready-to-eat processing center.
- Aeon (Thailand) has a registered capital of THB 890 million.
- Central Retail plans to rebrand the acquired stores as TOPS.
- The deal will be funded by Central Retail's internal cash.
Japanese retail giant Aeon is set to sell its Thai supermarket operations, including the MaxValu and MaxValu Tanjai brands, to Central Group, Thailand's largest retailer. The announcement, made on August 8, 2026, marks Aeon's full withdrawal from the supermarket business in Thailand.
Central Retail Corporation (CRC), through its wholly owned subsidiary Central Food Retail (CFR), signed the share purchase agreement on August 7, 2026. The acquisition encompasses 30 MaxValu supermarkets, which will be rebranded as TOPS and integrated into CFR's existing ecosystem. This move is expected to significantly bolster CRC's food business by expanding its supermarket network and customer base by over 900,000.
In addition to the stores, CFR will also gain ownership of valuable land assets and a ready-to-eat food processing center, enhancing its production capacity and product development capabilities. Aeon (Thailand) has a registered capital of THB 890 million. The transaction, funded by Central Retail's internal cash, is contingent upon the satisfaction of all conditions precedent stipulated in the agreement. Following completion, CFR will leverage its retail expertise to improve the operational efficiency of the acquired business.