CP Group news

16 December 2013
Wumart will no longer pursue plans to acquire Lotus stores, as deal deadline passes. October plans have not come to fruition In October Beijing-based retailer Wumart announced plans to acquire 36 stores from Thai owned CP Lotus, alongside both companies buying a significant stake in each other's businesses. This news followed shortly after the formal announcement about Tesco and CRE's pa...
12 December 2013
VietNamNet Bridge reports CP All is preparing to set up 7-Eleven stores in Vietnam within the next two months. Building on convenience success in Thailand The retail arm of Thailand's CP Group, CP All, successfully operates the 7-Eleven franchise in the market. With over 7,000 stores, it is the third largest network of 7-Eleven stores, following Japan and the US. At the time of CP All...
07 November 2013
The consolidation of Siam Makro and continued expansion of 7-Eleven drive strong revenue growth at CP All. Makro acquisition reflected in consolidated results Revenues increased 68.1% to THB 86,156m. However, this was offset by higher M&A-related costs, resulting in a -8.4% decline in consolidated net profit. Key performance data for 7-Eleven in Q3 Convenience accounts for c.64% ...
15 October 2013
Wumart and CP Lotus have entered into a framework agreement in which both retailers will hold a minority share in the other, and Wumart will acquire the majority of Lotus stores in China. What does the deal comprise of? Wumart will gain 36 of CP Lotus' 57 stores, in provinces including Beijing and Shanghai. This equates to sales space of around 310,000 square metres Wumart will acq...
30 September 2013
Three of Thailand's leading grocery retailers agree to freeze prices on key products amid rising costs for shoppers. Government-led plan to reduce food prices The Nation reports Tesco Lotus, Makro and Big C have pledged to freeze or reduce prices on essential products for the rest of the year, in order to reduce the burden of higher living costs on shoppers. Thailand's deputy commerce mi...
08 August 2013
Despite cautious shopper spending in Thailand, the operating company of 7-Eleven and Siam Makro in Thailand reported consolidated total revenue growth of 15.3% and net profit growth of 8.9% in the first half of the year. Double digit revenue growth; profits reflecting cost of Makro acquisition Consolidated total revenue reached THB 106.5bn - double digit growth was driven by a combination...
23 April 2013
Thailand's CP Group has acquired Dutch SHV Holding’s shares in Siam Makro, with plans for the remaining shares to be completed in June, for the total value of THB 188.88bn (USD 6.6bn). Re-establishing the connection with Siam Makro CP All Group co-founded Siam Makro with SHV Holdings in 1988, but subsequently sold its shares. Following divestments in the late 1990s, the acquisition of a 64....