Current owner DFI Retail Group and Macrovalue said today the deal covers all 48 Cold Storage stores in the republic, including those under the CS Fresh, CS Gold, and Jason’s Deli brands, and 41 Giant outlets, as well as two distribution centres.

According to The Straits Times, the transaction is expected to be completed in the second half of 2025, with Macrovalue acquiring 100% of the businesses.

DFI will focus on its Guardian Pharmacy and 7-Eleven convenience stores in Singapore and countries in the region such as Thailand, Hong Kong and the Philippines.

Its share price went up 5.3% at 1.45pm after the announcement.

Macrovalue owns the Cold Storage and Giant operations in Malaysia, having bought over GCH Retail Group in 2023, which operated the brands here previously.

Macrovalue co-owner Andrew Lim says the purchase will help it “enhance operational efficiencies, optimise regional supply chain capabilities and elevate the overall customer experience”.

“As new shareholders, Macrovalue’s existing operations in Malaysia will also support Cold Storage’s operations in Singapore across supply chain and procurement to help improve range and value for our customers,” he said.

DFI’s supermarket operations in Singapore became profitable in 2024 following several years of losses.

However, DFI said earlier this month it expects its supermarket revenue in Singapore to remain stable at best due to heavy competition in the industry, and it sees better growth and margins from its 7-Eleven convenience business moving forward.