SINGAPORE: Malaysia’s retail group Macrovalue is set to acquire Cold Storage and Giant supermarket chains in Singapore for S$125 million.

According to Channel News Asia (CNA), the deal includes 48 Cold Storage stores, including those under the CS Fresh, CS Gold, and Jasons Deli brands, alongside 41 Giant stores and two distribution centres in Singapore. The transaction is expected to be completed in the second half of the year.

This acquisition follows Macrovalue’s 2023 purchase of GCH Retail Group, which owns Cold Storage, Giant, and Mercato in Malaysia.

On Monday (March 24), Singapore-listed DFI Group, the current owner of Cold Storage and Giant in Singapore, said that Macrovalue is a “trusted and familiar partner to DFI.”

In a separate media release, Macrovalue said, “Macrovalue’s familiarity with the brands’ ethos, operations, and market positioning ensures that the transition in Singapore will be seamless, with customers benefiting from ongoing improvement in service, enhanced retail experiences and continued operational excellence.”

DFI said it will pivot its focus and resources in Singapore towards its Guardian and 7-Eleven businesses to drive growth, improve customer experience, and boost returns—a move that aligns with its strategic focus on delivering long-term value to shareholders.

CNA reported that DFI’s health and beauty business made up 55% of its total operating profit in 2024. The company expressed being “particularly optimistic” about the growth potential in this area.

A DFI spokesperson told CNA that it’s business as usual for employees in Singapore, with the company aiming for a smooth team transition and continuously delivering customer satisfaction.

The spokesperson also highlighted the group’s plans to focus on personalised assessments and product recommendations to increase “basket size” while exploring opportunities to expand services within its health and beauty sector.

Meanwhile, DFI stated that 7-Eleven has a “strong competitive advantage” and will focus on expanding its store network, improving ready-to-eat options, and growing its digital presence, like the new 7-Eleven app.

DFI group chief executive Scott Price said, “In today’s en...