Marubeni acquires Indonesian tire retail chain operator
JAKARTA, NNA – Japanese trading house Marubeni Corp. has acquired Indonesian tire retail chain operator PT Trans Oto Internasional (TOI) in a move to meet potential demand growth in the country.
Marubeni acquired the controlling interest in TOI in April through the trading house’s Thai car parts sales subsidiary B-Quik Co., the Tokyo-based company said in a statement on Tuesday.
Marubeni changed TOI’s name to PT. BQuik Otomotif Indonesia (BQI). The Jakarta-based tire retailer sells car parts including tires, batteries and lubricants, and provides car maintenance services.
Marubeni would not disclose its investment ratio in BQI or the retail chain’s sales targets, a Marubeni spokeswoman told NNA in a telephone interview on Wednesday.
The Japanese trader first acquired a stake in TOI in 2014, the year after the retailer was established. Marubeni said the latest acquisition will allow it to take advantage of B-Quik’s retail expertise as it expands BQI’s business among the growing middle class in Indonesia, whose population of about 270 million makes it the world’s fourth most populous country.
The Indonesian chain currently operates seven shops. Marubeni aims to open 10 new BQI stores a year, although the COVID-19 pandemic could affect this plan, according to the spokeswoman.
Bangkok-based B-Quik, founded in 1995, operates 166 stores in Thailand. It has opened about 10 new outlets each year since Marubeni acquired it in 2006.