Retail in Asia

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Taiwan’s largest grocery store Pxmart to acquire Matsusei Supermarket

Taiwan’s largest grocery store Pxmart will acquire Matsusei Supermarket at a price tag of TWD450 million, giving it over 800 stores nationwide.

The deal was announced by Matsusei’s parent company Wei Chuan Foods Corporation on Thursday. The deal is still pending the Fair Trade Commission’s review. Wei Chuan held a board meeting on Thursday afternoon to deliberate the takeover deal. It was decided later that all the asset and equipment belonging to Matsusei’s 65 stores will be ceded to Pxmart.