All Cold Storage and Giant supermarket outlets located in Singapore will be acquired by Malaysian retail group Macrovalue for an initial price of S$125 million, The Straits Times reported.
DFI Retail Group, the current owner of both supermarket chains, announced the sale today (March 24).
Cold Storage operates 48 stores across its various brands—CS Fresh, CS Gold, and Jasons Deli—in Singapore, while Giant has 41 stores and two distribution centres in the country.
The acquisition, which is expected to be completed in the second half of 2025, will see Macrovalue take full ownership of these brands.
Macrovalue already owns the Cold Storage and Giant operations in Malaysia, having bought over Malaysia-based GCH Retail Group in 2023, which operated the brands there previously.
By extending its reach into Singapore, Macrovalue can “enhance operational efficiencies, optimise regional supply chain capabilities and elevate the overall customer experience”, said co-owner Andrew Lim.
Meanwhile, DFI Retail Group will shift its focus toward its Guardian Pharmacy and 7-Eleven convenience store businesses in Singapore and the region.
In 2024, the group’s health and beauty businesses accounted for 55% of its total operating profit, with DFI stating in a financial report that it is “particularly optimistic” about the growth prospects in this segment.
“This transaction aligns with the group’s strategic focus on delivering long-term value to shareholders,” the group said, according to CNA.
- Read more about DFI Retail Group here.
- Read more articles we’ve written about Singapore’s current affairs here.
Feature Image Credit: Cold Storage and Giant via Facebook
