Actis exits Asia Books in Thailand
Actis Capital and Thailand Equity Fund (TEF) have jointly exited their 100% stake in Asia Books, a leading foreign-language books and magazine vendor in Thailand, to Bangkok-based Berli Jucker Public Company.
The exit comes five years after Actis led the MBO of Distri-Thai, which was the largest distributor of foreign-language magazines in the market and managed the Bookazine chain. In 2007, Distri-Thai merged with TEF-owned Asia Books to create the largest foreign-language book and magazine business in Thailand. It has a 60% market share of the English language retail business and a network of 65 retail outlets, the companies announced in a statement.
According to the firms, Asia Books' performance over recent years has weathered arduous and economic and political events by focusing on its store portfolio, improving its technological platform and introducing digital offerings.
"Asia Books has a strong brand, excellent market positioning and an impressive track record," said Gary Addison, a partner at Actis Singapore. " I am very proud of what the Actis team has achieved and feel extremely positive about the company's prospects under the stewardship of Berli Jucker."
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