Thailand’s biggest supermarket chain, Kompas, has bought Whole Foods, marking the latest step in the chain’s bid to become more global and globally-distributed.
Kompass, which operates more than 80 stores across Asia, announced its purchase of Whole Foods Inc. on Thursday, marking an aggressive bid to increase its reach in a region that accounts for around 15% of its market share.
It also comes at a time when many of the world’s largest retailers have also begun to look at how to diversify their businesses abroad.
“This acquisition will add value to our global network, strengthen our operations and increase our flexibility and access to our customers around the world,” said the company in a statement.
Komsa Thai, which is the parent company of Kompasse, also said the deal is expected to close by the end of the year.
The chain is one of Thailand’s largest food retailers, with more than 6,000 stores and around 50,000 employees.
It operates about 1,400 restaurants, and has more than 400 distribution partners.
Kommasan, which also owns a number of other Thai chains, is also in talks to acquire several other retailers.
It will also use the Whole Foods deal to bolster its existing supply chain.
In addition to Whole Foods’ Thai footprint, the deal includes Kompasses Thai grocery store, which sells Thai food and is also part of Komsasan’s portfolio.
The deal will also provide Komsan with access to more than 40% of Whole Food’s U.S. and global supply chain, according to the company.
It is also the first of its kind for Komsamans Thai grocery chain.
It has the largest number of Thai-owned stores in the U.N. and is the largest of the Thai chains.
Thai food retailer Kompasa, which opened its first store in New York City in 1991, has been struggling for years to gain acceptance abroad.
It closed down its entire U.K. store in 2015 after a decade of operating in the country.
Komsa is a subsidiary of Kommassan.