Under the acquisition, Vingroup has become the new owner of a chain of nine Maximark supermarkets and commercial centres in the south and south central region and other properties previously belonging to An Phong.
All Maximark supermarkets and commercial centres will be transformed into Vinmart or Vinmart+ under the Vinmart system or become members of Vincom Retail chain.
The deal is under the Vingroup's strategy to expand its presence nationwide, particularly its Vincom and Vinmart retail and distribution systems in the south.
Without revealing the price of the acquisition, Vingroup Deputy Chairman Le Khac Hiep said the deal is expected to raise the position of Vietnamese brands, maintain the market share of Vietnamese goods and increase the competitiveness of Vietnamese enterprises.
As of October 2015, Vingroup is operating 125 Vinmart and Vinmart+ retail outlets nationwide. In addition, Vincom Retail possesses 12 commercial centres and Vincom Mega Malls, which is expected to rise to nearly 40 in 2016.
