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| ▲ Officials from SPC Samlip Co. (L and 2nd from L) and those from Siam Makro Public Co. pose for the camera after a signing ceremony in Seoul last month, in this photo provided by SPC Samlip on March 6, 2023. (PHOTO NOT FOR SALE) (Yonhap) |
SPC Samlip-Siam Makro-MOU
SPC Samlip to partner with Thai retailer to expand bakery biz
SEOUL, March 6 (Yonhap) -- SPC Samlip Co., a major South Korean producer of bread, said Monday it has joined hands with a retail affiliate of Thailand's largest conglomerate, CP Group, as part of its push to enter the Southeast Asian country.
SPC Samlip said it inked a memorandum of understanding with Siam Makro Public Co. last month to review forming a joint venture.
Siam Makro is the retail affiliate of CP Group and operates around 150 Makro big-box stores and 2,500 outlets of the Lotus discount retail chain in Thailand.
The retailer also has 10 Makro stores in the broader Asia region, including in India, Cambodia and China.
Its sales amounted to 17.6 trillion won (US$13.6 billion) in 2022, SPC said.
SPC Samlip said it will start operating consignment bakeries inside Siam Makro's retail channels in Southeast Asia, while further plans to expand businesses to the production, development and distribution of baked goods in Thailand.
SPC Samlip is the baked goods and food distributor under SPC Group, which operates the Paris Baguette bakery chain, Shake Shack Burger and Eggslut restaurants in South Korea.
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