Wei Chuan Foods Corp (味全) yesterday announced that its board of directors has approved the sale of the Matsusei supermarket chain (松青超市) in a move to stem losses it is suffering from its retail unit.
Wei Chuan, operated by Ting Hsin International Group (頂新集團), said in a filing with the Taiwan Stock Exchange that it would sell Matsusei to Chuan Lian Enterprise Co Ltd (全聯實業) for NT$450 million (US$13.68 million).
Chuan Lian, which operates the nation’s largest supermarket chain, Pxmart (全聯福利中心), is to acquire Matsusei’s 65 stores, including equipment, assets and brand trademark, further cementing its position as the nation’s top supermarket chain operator.
Photo: CNA
However, the terms of the deal do not include Matsusei’s current inventories, Wei Chuan said.
Pxmart operates 746 stores in Taiwan, of which more than 700 offer fresh produce. Its takeover of Matsusei is likely to bring the figure to well above 800 after the company completes resource integration.
Since its establishment in 1986, Matsusei’s sales performance has never met expectations in the saturated local market.
In addition, continued operating losses widened markedly in the past two years due to the severity of the food safety crisis, Wei Chuan said in a statement.
Matsusei was caught up in last year’s boycott movement against businesses owned by Ting Hsin, a processed foods conglomerate that had drawn the public’s ire by putting tainted cooking oil on the market.
Wei Chuan yesterday said that it could no longer sustain Matsusei’s operations, adding that it lacks the resources to initiate the required business transformation plans for the ailing chain.
The company has pledged to ensure the interest of the 790 workers employed at Matsusei. It also plans to negotiate with Pxmart to offer employees reassignment and compensation terms that are more favorable than what is required by labor laws.
Wei Chuan said it is to focus on its core food and beverages businesses in Taiwan and China.
Founded in 1998, Pxmart has evolved from a government-run low-priced grocery chain catering only to military and public sector workers to a supermarket giant.
In May, the company estimated sales to exceed NT$800 billion this year and outlined plans to be listed on the local bourse in the future.
Pxmart’s most recent major acquisitions date back to 2007, when it purchased 12 supermarkets operated by the Taipei Agricultural Products Marketing Co (台北農產公司).
Matsusei stores are expected to close their doors after Dec. 31.
Taiwan is gearing up to celebrate the New Year at events across the country, headlined by the annual countdown and Taipei 101 fireworks display at midnight. Many of the events are to be livesteamed online. See below for lineups and links: Taipei Taipei’s New Year’s Party 2026 is to begin at 7pm and run until 1am, with the theme “Sailing to the Future.” South Korean girl group KARA is headlining the concert at Taipei City Hall Plaza, with additional performances by Amber An (安心亞), Nick Chou (周湯豪), hip-hop trio Nine One One (玖壹壹), Bii (畢書盡), girl group Genblue (幻藍小熊) and more. The festivities are to
Auckland rang in 2026 with a downtown fireworks display launched from New Zealand’s tallest structure, Sky Tower, making it the first major city to greet the new year at a celebration dampened by rain, while crowds in Taipei braved the elements to watch Taipei 101’s display. South Pacific countries are the first to bid farewell to 2025. Clocks struck midnight in Auckland, with a population of 1.7 million, 18 hours before the famous ball was to drop in New York’s Times Square. The five-minute display involved 3,500 fireworks launched from the 240m Sky Tower. Smaller community events were canceled across New Zealand’s
The Ministry of Foreign Affairs (MOFA) yesterday said it is closely monitoring developments in Venezuela, and would continue to cooperate with democratic allies and work together for regional and global security, stability, and prosperity. The remarks came after the US on Saturday launched a series of airstrikes in Venezuela and kidnapped Venezuelan President Nicolas Maduro, who was later flown to New York along with his wife. The pair face US charges related to drug trafficking and alleged cooperation with gangs designated as terrorist organizations. Maduro has denied the allegations. The ministry said that it is closely monitoring the political and economic situation
‘SLICING METHOD’: In the event of a blockade, the China Coast Guard would intercept Taiwanese ships while its navy would seek to deter foreign intervention China’s military drills around Taiwan this week signaled potential strategies to cut the nation off from energy supplies and foreign military assistance, a US think tank report said. The Chinese People’s Liberation Army (PLA) conducted what it called “Justice Mission 2025” exercises from Monday to Tuesday in five maritime zones and airspace around Taiwan, calling them a warning to “Taiwanese independence” forces. In a report released on Wednesday, the Institute for the Study of War said the exercises effectively simulated blocking shipping routes to major port cities, including Kaohsiung, Keelung and Hualien. Taiwan would be highly vulnerable under such a blockade, because it
RSS