French retailer Auchan sells stake in Taiwan business to PX Mart

This is part of the retailer’s move towards geographical refocusing.

French multinational retailer Auchan was selling its 64.83% stake in its Taiwan retail business RT-Mart to the Taiwanese group PX Mart for an undisclosed amount as part of a non-strategic asset disposal plan, the company said in a news release.

This sale will be accompanied by the simultaneous sale by the Ruentex group of its own stake in RT-Mart. As a result, 95.97% of RT-Mart will be held by the PX Mart group.

The non-strategic asset disposal plan announced last March is part of Auchan’s move towards geographical refocusing, initiated after the withdrawal from mainland China in October 2020.

RT-Mart Taiwan conducts its business through three distribution concepts—namely hypermarket, convenience store, and hybrid concept of a food store associated with a multi-restaurant area—and has around 4,200 employees.

Founded in 1998, PX Mart is the largest supermarket chain in Taiwan. Chaired by its founder and

controlled by the Ming-Hsiung Lin family, the company has 1,009 stores in Taiwan. It is known in the country for its discount price positioning.

Completion of the planned transaction will be subject to approval by the Taiwanese competition authority.