“M&A Activity: Southern Book Culture JSC and Tan Luc Southern JSC”

According to the announcement, Tan Luc Southern JSC, a subsidiary of the office supplies giant, will be the transferee, while the sellers are existing shareholders of Southern Book Culture JSC (HOSE: PNC).

On the same day, the board of directors of Southern Book Culture JSC met and decided to approve the shareholders’ proposal to include the waiver of the public offer in relation to the transfer of PNC shares in the agenda of the upcoming 2025 annual general meeting.

The proposal states that 15 individual shareholders of Southern Book Culture JSC will transfer a total of nearly 8.3 million PNC shares, equivalent to over 76.8% of the company’s shares, to Tan Luc Southern JSC. The transactions are expected to be completed within the second quarter of this year, but the value of the deal was not disclosed.

Shares of both TLG and PNC experienced a slight dip as of 10:21 am on May 20, following the media coverage of the acquisition.

Southern Book Culture JSC bookstore in Hai Chau District, Da Nang City

This acquisition will immediately grant Tan Luc Southern JSC direct ownership of approximately 50 bookstores under the Southern Book Culture JSC brand, mainly located in the Southern region, with a focus on Ho Chi Minh City. This is a significant addition to Tan Luc Southern JSC’s direct sales network, as their self-developed Clever Box and Peektoy chains have only managed to establish 12 stores in nearly three years of operation. Both of these chains are managed by Tan Luc Southern JSC.

At the 2025 annual meeting held on April 10, CEO Tran Phuong Nga stated that Tan Luc Southern JSC would continue to focus on M&A activities but would not pursue growth at all costs given the complex global landscape. The leadership team emphasized that they would carefully evaluate the suitability of potential acquisitions.

By directly operating a large retail system, the 44-year-old office supplies brand can further enhance its understanding of consumer preferences, which CEO Nga affirmed as a core competitive advantage against the influx of cheap and diverse products from China.

The involvement of Tan Luc Southern JSC is also expected to bring a fresh perspective to the Southern Book Culture JSC chain, which has faced consecutive years of declining revenue. In 2024, Southern Book Culture JSC reported a 6% decrease in net revenue, amounting to 614 billion VND.

Thua Van

– 10:49 05/20/2025

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