Cold Storage, Giant customers can expect wider range, says buyer

DFI Retail Group to sell 89 supermarket outlets and 2 distribution centres to Malaysia's Macrovalue for $125m

- Kang Wan Chern

Customers of Cold Storage and Giant can expect more value for money, a greater variety of merchandise and new outlets following the sale of the supermarket chains to Malaysia retail group Macrovalue.

DFI Retail Group, which owns Cold Storage and Giant in Singapore, on March 24 announced that it will sell all 48 Cold Storage and 41 Giant outlets, as well as two distribution centres, to Macrovalue for $125 million. The brands under Cold Storage include CS Fresh, CS Gold and Jason's Deli.

Speaking to The Straits Times shortly after the deal was made public, Macrovalue owner Andrew Lim Tatt Keong said customers of Cold Storage, which targets a more upscale clientele, can soon expect a wider range of merchandise, including "special items the other supermarkets don't have".

"We'll be able to offer a greater variety of merchandise at Cold Storage, such as wines, cheese and dairy products that are currently also retailing at our upscale Mercato supermarkets in Malaysia."

Giant's more mainstream customers will enjoy better prices on basic products that are imported from Malaysia, such as eggs, chicken, fruit and vegetables, as well as other household items.

"We have a whole logistics and supply chain in Malaysia that we can tap on to benefit Singapore customers and give them more value for money," Datuk Lim said.

Consumers in Singapore could see new Giant and Cold Storage outlets opening up in new locations across the island over the next one year as Macrovalue focuses on stabilising the business while ensuring it stays profitable.