The Saigon Trade Cooperative Union (Saigon Co.op) will take over 18 stores and the entire online retail system of French company Auchan Retail in Vietnam as part of a merger and merger agreement. acquisition between the two parties on June 27.
As for the three supermarkets in operation, Saigon Co.op will retain the Auchan brand until February 2020, while the 15 supermarkets in Ho Chi Minh City, Hanoi and Tây Ninh, which were closed, will be renovated and put into operation. service under the Saigon Co.op brands. Co.opmart, Co.opXtra and Finelife. In addition, Saigon Co.op will work to guarantee the rights of Auchan’s customers.
Saigon Co.op and Auchan also discussed various cooperation opportunities such as imports, exports and many other business opportunities.
According to Nguyen Anh Duc, deputy general manager of Saigon Co.op, the acquisition of Auchan is a good illustration of Saigon Co.op’s strength in modern commerce and its responsibility to Vietnamese consumers.
For its part, Philippe Courbois, director of Auchan Retail Vietnam, said that the contract with Saigon Co.op should allow both parties to collaborate in the near future.
The French group entered Vietnam in 2015 and has developed a total of 21 stores in the country. After the closure of three sales outlets, Auchan continued to close 15 deficit stores in mid-May, preparing its exit plan for the Vietnamese market. The last three active stores are in Ho Chi Minh City.
Source : lecourrier.vn