Mr. Sathien Sathienthamma, Chief Executive Officer of Carabao Group Public Company Limited, or CBG, revealed that the company aims to take its CJ MORE business public within 2029, and is currently still considering whether to list on the Thai stock exchange or a foreign one, after several overseas exchanges approached it, including Hong Kong's Hang Seng exchange, the Singapore Exchange, and the NASDAQ in the United States. For CJ MORE's operating direction in 2026, the company has set a sales target of 80 billion baht, after generating 50 to 60 billion baht in sales over the past eight months, and it is maintaining its goal of reaching 100 billion baht in sales by 2027. It will add another 700 branches, up from 500 branches added this year. By the end of this year, CJ MORE is expected to have a total of 2,500 branches nationwide, up from 2,100 at present. The company is currently adjusting its product model, especially in the fresh and soft-serve categories, which previously involved a partnership with a Chinese partner but was found to have limitations in quality and standard control, so it has switched to working with a leading manufacturer and product developer from Japan to jointly develop products and improve quality further. In addition, CJ MORE has launched the "CJ STAR, Good Products with Stars" project, aiming to create opportunities for good products from communities across the country and small operators through a network of more than 2,100 CJ MORE stores covering more than 60 provinces, starting with a network of more than 538 CJ MORE stores in the central, eastern, and western regions. At present, 14 operators have received stars, covering 21 product items, which will be sold in the prime "CJ STAR, Good Products with Stars" area in CJ MORE stores.
Carabao Group Public Company LimitedCBG plans to take its CJ MORE business public by 2029, a potential listing/valuation event for the parent.
