Business Services Industry
Tops Supermarket Brand to Stay, Despite Dutch Parent's Exit.
Knight Ridder/Tribune Business News, May, 2004
By Boonsong Kositchotethana, Bangkok Post, Thailand Knight Ridder/Tribune Business News
May 25--The presence of the Tops supermarket brand in Thailand will continue over the next 25 years despite the exit of the Dutch supermarket giant Royal Ahold NV, the brand owner, say executives of the Central Group.
Central Retail Corporation (CRC) will exercise the option to retain the right of its supermarket subsidiary, CRC Ahold Company, to use the Tops brand. CRC Ahold is also being renamed following the decision in April by Royal Ahold to sell its 50 percent stake in the company to CRC. The Dutch company has been divesting various interests to raise funds to cut down its debt of 11 billion euros (539 billion baht).
CRC now owns 100 percent...
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