Macrovalue Malaysia to expand in Singapore

Cold Storage Singapore, the country’s oldest supermarket chain, is being bought over by Malaysian retail group Macrovalue in a deal that is worth S$125 million (US$93 million). The acquisition started last March and includes 48 Cold Storage stores under its CS Fresh, CS Gold, Cold Storage and Jasons Deli brands, as well as 41 Giant stores and two distribution centres in Singapore. In 2023, Macrovalue acquired GCH Retail Group, the operator of Cold Storage, Giant and Mercato in Malaysia. Source: CNA

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