Central Retail Corporation Public Company Limited (CRC) announced to the Stock Exchange of Thailand on August 7, 2026 that Central Food Retail Company Limited (CFR), a subsidiary in which CRC holds 100% of the shares directly and indirectly, signed an agreement to acquire common shares in Ion (Thailand) Company Limited, the operator of the “MaxValue” supermarket business, consisting of 30 branches, including small-sized branches in buildings and large-sized standalone branches, located in Bangkok and its vicinity. The acquisition aims to convert the branches to the “Tops” brand, expand the network in strategic locations, strengthen the food business group, and increase the customer base by 900,000.
Analysis indicates that each branch is in a high-potential location. The acquisition of “MaxValue” by the Central Group this time is expected to convert standalone branches with large areas and proximity to the BTS Skytrain into “Tops” branches, as Central Group is not only involved in retail but also has department stores and hotels. For example, the MaxValue branch at Ratchaprarop is a large branch located near the BTS Skytrain on the Pink Line, opposite Rajabhat University, and surrounded by condominiums, making it a notable location that could potentially offer more than just a “Tops” branch.
Regarding the timeline for the closure of MaxValue branches, according to sales staff, they have been informed that the last day of operation will be September 30, 2026. However, there is no clarity on whether the staff will continue to be employed. This means that starting from October 1, 2026, the era of Japanese retail stores in Thailand will officially come to an end.