Cold Storage & Giant supermarkets in S'pore set to be sold to M'sian group in 2025 for S$125 million

Supermarket shoppers in Singapore may know that Cold Storage and Giant supermarkets are run by DFI Retail Group.

This is set to change from the second half of 2025, as DFI has struck a deal to sell the supermarket chains to Malaysian retail group Macrovalue. They will acquire 100 per cent of Cold Storage.

The initial purchase price is S$125 million.

DFI Retail Group and Macrovalue said on Mar. 24 that the deal covers all 48 of the Cold Storage supermarket outlets in Singapore (including CS Fresh, CS Gold, and Jason’s Deli outlets), and all 41 Giant outlets.

The deal also includes two distribution centres.

New owner previously took over Malaysia operations

Macrovalue currently owns Cold Storage and Giant operations in Malaysia, having bought over Malaysia-based GCH Retail Group in 2023.

Macrovalue co-owner, Andrew Lim, said the deal to acquire the Singapore businesses would allow for greater operational efficiency, and allow for regional supply chain capabilities to be optimised.

Lim also said the existing operations in Malaysia would be able to support Cold Storage in Singpore, which would help to improve "range and value" for customers.

“We will ensure the continuity of local management and operational teams," he said, with Macrovalue promising a "seamless" transition.

DFI's current managing director for Cold Storage and Giant in Singapore, Lim Boon Cheong, will join Macrovalue.

DFI will focus on Guardian and 7-Eleven businesses instead

DFI said that following the deal, it would pivot its resources toward running its Guardian pharmacies and 7-Eleven convenience store outlets.

“In today’s environment of rising food costs and inflation, it is essential to leverage scale and operational efficiencies to protect customers from price volatility while maintaining quality and service standard,” said DFI chief executive Scott Price.

Top photo via DFI Retail Group on LinkedIn