Thai retail powerhouse CP Axtra has secured a deal to acquire the Malaysian supermarket operator, The Food Purveyor, for a sum of US$421.6 million.
The Food Purveyor boasts a wide range of premium grocery brands under its umbrella, including Village Grocer, Ben’s Independent Grocer, BSC Fine Foods, OTK, and The Food Merchant. The company currently operates a broad network of 50 stores spread throughout Malaysia.
CP Axtra, established in 1988, is one of the leading wholesale and grocery conglomerates in Thailand. It expanded into Malaysia by acquiring Tesco in 2020 and subsequently operating it under the brand name Lotus Malaysia. With a sprawling network of more than 2600 outlets spread across countries like Thailand, Malaysia, Cambodia, Vietnam, Singapore, Hong Kong, Oman, and the UAE, the company has established a significant presence worldwide.
This new acquisition forms part of CP Axtra’s comprehensive strategy to penetrate high-potential international markets, such as Malaysia. It also bolsters the company’s foothold in the premium grocery segment. Upon the deal’s completion, CP Axtra will operate in excess of 120 grocery chains nationwide. This figure combines 50 stores from The Food Purveyor and 70 stores from Lotus.
The transaction is slated for completion in the fourth quarter, dependent on receiving the necessary regulatory approvals.
What major brands does The Food Purveyor operate under?
The Food Purveyor operates major premium grocery brands such as Village Grocer, Ben’s Independent Grocer, BSC Fine Foods, OTK, and The Food Merchant.
How has CP Axtra grown over the years?
CP Axtra has grown significantly since its establishment in 1988. It now operates more than 2600 outlets across Thailand, Malaysia, Cambodia, Vietnam, Singapore, Hong Kong, Oman, and the UAE.
What is the significance of this acquisition for CP Axtra?
The acquisition of The Food Purveyor enables CP Axtra to expand into high-potential overseas markets such as Malaysia and strengthen its position in the premium grocery segment.
