On 6 March, Siam Makro signed a memorandum of understanding (MoU) with SPC Samlip, a South Korean leading bakery producer.
Both partners agreed to establish joint venture (JV) to implement bakery production and distribution business in Thailand, and operate in-store bakery shops to produce and distribute packaged bakery products at retail and wholesale channels under Siam Makro in Thailand and Southeast Asia.
SPC Samlip, a food company affiliated to Korea’s No.1 bakery conglomerate SPC Group, manufactures and distributes bakery, including a variety of packaged bakery and dessert products, and food products including processed meat, beverages, fresh food and HMR (dietary food), for B2B and B2C customers.
The company also operates other related businesses such as food distribution and food retailing businesses. SPC Samlip is also the exclusive operator of Californian sandwich brand ‘eggslut’ in Korea. Its annual sales reached US$2.5 billion in 2022.
The MoU agreement is also the first partnership that SPC Samlip has signed with an overseas partner to tackle the overseas market.
Siam Makro recorded sales of US$13.5 billion in 2022 and operates 150 warehouse-style supermarkets and 2,500 Lotus discount stores throughout Thailand. Apart from Thailand, it also operates 10 stores in Cambodia, India, China, and Myanmar. It is also running a distribution and premium food export businesses in Asia.
The JV will provide Siam Makro with bakery business expertise, including product development, operation management and quality control.
