SPC Samlip announced on March 6 that it has signed a partnership business agreement with Siam Makro enterprise, a distribution affiliate of CP Group, Thailand's No. 1 conglomerate, to enter the Thai bakery market.
In February, SPC Samly held an event to sign the SPC Samly-Siam Makro partnership business agreement for a joint bakery business in Thailand at the COEX Intercontinental Hotel in Seoul.
The agreement is the first partnership that SPC has signed with a local company for overseas business expansion, and the two companies will consider establishing a joint venture to produce and distribute bakery products in Thailand and pursue related businesses.
Siam Makro recorded annual sales of approximately KRW 17.6 trillion as of 2022 and operates more than 150 warehouse-style supermarkets Makro and 2,500 hypermarkets Lotus across Thailand. In addition to Thailand, the company operates 10 Makro stores in Cambodia, India, China, and Myanmar, as well as distribution and premium food export businesses in Asia.
SPC Samlip will promote the local bakery product production and distribution business, starting with the consignment of in-store bakeries within the distribution channels operated by Siam Macro in Thailand and Southeast Asia, and provide Siam Macro with bakery business know-how such as product development, operation processes, and quality control.
In addition, SPC Samlip plans to expand collaboration with CP Group in various fields such as bio and IT industries based on its 70 years of R&D and original technology in the field of fermentation-centered microorganisms, as well as digital innovation.
"Through this agreement, we plan to further expand our business to the Southeast Asian market, starting with Thailand," said an official from SPC Samlip. "Based on our capabilities in leading the Korean bakery market, we will introduce the excellence of Korean bakery to the Thai market."
