Indonesian retail team Macrovalue may acquire Cold Storage Singapore, the nation’s oldest supermarket chain, for$ 2,000.
; Additionally, there are 41 Giant businesses and two supply centers in Singapore under the CS Fresh, CS Gold, Cold Storage, and Jasons Deli companies.
DFI Group, which currently owns Cold Storage and Giant in Singapore, announced this on Monday ( Mar 24 ), calling Macrovalue a” trusted partner.”
Macrovalue purchased GCH Retail Group, the company that runs Mercato, Giant, and Cold Storage in Malaysia, in 2023.
The Malaysian company stated in a distinct media release that” Macrovalue’s familiarity with the companies ‘ ethos, activities, and market positioning ensures that the transition to Singapore will be seamless, with clients benefiting from continuing improvement in service, enhanced retail activities, and continued operational excellence.”
The deal is anticipated to close in the next quarter of 2025.
DFI announced that it will shift its attention from the 7-Eleven and Chief firms in Singapore.
This deal “always coincides with the group’s proper emphasis on delivering long-term benefit to shareholders,” it said.
In today’s culture of rising food costs and inflation, DFI’s party chief administrative Scott Price said,” It is crucial to utilize level and operational efficiency to protect consumers from price fluctuation while maintaining quality and service standards.
With its expanded scale and extensive procurement capability in both Malaysia and Singapore, we firmly believe that Macrovalue is ideally positioned to lead the next phase of growth for the Singapore Food business. “
The supermarket chain started out as a cold storage and company, which was founded in 1903 as the Singapore Cold Storage Company. a distribution company that imports dairy, venison, and other perishable foods. It later grew to include the retail sector and was ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;; DFI Retail Group purchased the business in 1992.
Giant, a value-focused superstore, was founded in 2000.
The managing director of DFI Retail Group’s Food Singapore, Mr. Lim Boon Cheong, will remain with Macrovalue as they “headhead the next chapter of business transformation.”
Mr. Lim is the CEO and COO of Cold Storage Singapore among other positions held by the DFI Retail Group.
We want to elevate Giant to become a top brand for affordable, fresh, and high-quality groceries by expanding Cold Storage’s remarkable 121-year legacy.
” We will make sure that Singaporeans continue to trust and love both Giant and Cold Storage,” he said. “