Mitsui & Co (TYO:8031) is strengthening its partnership with Bangladesh's ACI Group by providing a convertible loan to ACI Logistics, which operates Shwapno, the nation's largest grocery retail chain with over 800 stores.
This marks Mitsui's second investment in the conglomerate, following its November 2024 investment in ACI Motors, as the Japanese firm seeks to capitalize on Bangladesh's rapidly growing middle class and its increasing demand for modern retail experiences, according to a statement on Thursday.
As a strategic partner, Mitsui plans to accelerate Shwapno's growth through operational collaborations, governance support, and knowledge sharing, including potential staff secondees.
The investment targets Bangladesh's food retail sector, where modern grocers currently hold only about 2% market share, offering substantial room for expansion.
Comments