Major Thai conglomerate plans to acquire MM Mega Market Vietnam for $717mn: media

The acquisition, reported by Kaohoon International in mid-December last year, will require consideration and approval at BJC’s extraordinary general meeting of shareholders No. 1/2026 scheduled for February 13, according to a disclosure to the Stock Exchange of Thailand.

BJC, through its subsidiary C-Distribution Asia, will purchase all 921.8 million shares of TCC Land International (Singapore) at a price of about THB24.41 ($0.77) per share, with a total value of approximately THB22.5 billion ($717 million).

TCC Land International is the holding entity that owns 100 percent of MM Mega Market Vietnam, which operates wholesale distribution centers for consumer goods with branches throughout Vietnam.

Both BJC and MM Mega Market Vietnam operate within the broader TCC Group controlled by Thai billionaire Charoen Sirivadhanabhakdi.

BJC said the acquisition forms part of a long-term strategy aimed at unlocking new markets, with Vietnam identified as a particularly timely opportunity due to ongoing economic reforms and significant growth potential.

While the company expects higher financial costs from the transaction, it anticipates the deal will ultimately boost profitability.

MM Mega Market Vietnam currently derives around 55 percent of its revenue from the business-to-business segment and 45 percent from business-to-customer retail sales.

The company aims to lift the business-to-business contribution to 60 percent by 2030.

MM Mega Market Vietnam operates 30 outlets in 2025 and targets an increase to 54 locations nationwide by 2030.

To finance the acquisition, BJC plans to use loans from financial institutions and/or proceeds from issued debentures, ensuring that the financing aligns with its liquidity management and investment plans.