In a significant move within Singapore’s retail sector, Malaysia’s Macrovalue Group has acquired the Cold Storage and Giant supermarket chains for S$125 million. The acquisition includes 48 Cold Storage outlets and 41 Giant stores, alongside two distribution centers, marking a major reshaping of Singapore’s supermarket landscape.

The deal sees DFI Retail Group, the current owner, divest its supermarket businesses in Singapore. Following the sale, DFI will refocus its operations on its Guardian pharmacy chain and 7-Eleven convenience stores in the country.

The acquisition marks an important milestone for Macrovalue Group, further expanding its retail presence in Singapore and allowing it to tap into the established customer base of these well-known supermarket brands. The transition will be closely watched by both retail analysts and consumers as Macrovalue aims to streamline and modernize the operations of Cold Storage and Giant.