Phương Nam: Shake-Up as Thiên Long Moves Forward with Acquisition
Deal News | Jun 10, 2025 | EIN
Thiên Long Group has initiated the acquisition of Phương Nam Bookshop, a major player in Vietnam's retail book market. The acquisition, carried out through the subsidiary Tân Lạc Minh Nam, commenced in the second quarter of 2025. The transition entails a complete leadership overhaul at Phương Nam, with six top executives resigning and new appointments made. This move is aligned with Thiên Long’s strategic goal to diversify its product offerings in the growing lifestyle and toy sectors. Phương Nam's extensive network of nearly 50 bookshops, mostly located in strategic locations, will bolster Thiên Long’s market penetration. The company targets a 12% revenue increase for 2025, albeit with a slight dip in projected profits. This merger aims to capitalize on emerging opportunities amidst an expanding Vietnamese market.
Sectors
- Retail
- Publishing
- Consumer Goods
Geography
- Vietnam – The acquisition takes place in Vietnam, with both companies based in the country and the retail operations focused on the Vietnamese market.
Industry
- Retail – The article discusses the acquisition of Phương Nam Bookshop, which is part of the retail industry servicing the book market in Vietnam.
- Publishing – Thiên Long’s acquisition of Phương Nam Bookshop involves changes in leadership with experience in publishing, reflecting the industry's relevance.
- Consumer Goods – Thiên Long aims to expand its offerings in the lifestyle and toy sectors, which are part of the fast-moving consumer goods (FMCG) industry.
Financials
- VN4.2 trillion (US$161.3 million) – Thiên Long's targeted revenue for 2025 following the acquisition.
- VN450 billion – Thiên Long's target profit for 2025, which is slightly lower than the previous year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Thiên Long Group | Acquirer | Company | Thiên Long Group is leading the acquisition of Phương Nam Bookshop as part of its strategy to expand product offerings and market presence. |
| Phương Nam Bookshop | Target | Company | A leading retail bookshop chain in Vietnam, targeted for acquisition by Thiên Long Group. |
| Tân Lạc Minh Nam | Subsidiary of Acquirer | Company | The subsidiary through which Thiên Long is executing its acquisition of Phương Nam Bookshop. |
| Nguyễn Như Quỳnh | Former CEO & Vice Chairwoman | Person | A key figure among the executives who have resigned from Phương Nam. |
| Nguyễn Tuấn Quỳnh | Chairman of the Board | Person | The newly appointed chairman at Phương Nam Bookshop, part of the leadership change post-acquisition. |
| Vũ Thị Hoàng Quỳnh | General Director | Person | Appointed as the new general director of Phương Nam Bookshop. |
| Nguyễn Ánh Thơ | Deputy General Director | Person | Appointed as the deputy general director at Phương Nam following the acquisition. |