Forbes: Grab Acquires Malaysian Supermarket Chain Jaya Grocer

(Image Source: Bloomberg)

Grab Holdings is closing a $425 million deal to acquire Malaysian Jaya Grocer to meet a growing demand for online grocery deliveries. Founded in 2012, Grab has evolved into a superapp that serves customers in more than 400 cities across Southeast Asia. The Singapore-based company plans to purchase all ordinary shares along with 75% of the preferred shares.

Considering how Jaya Grocer is one of Malaysia’s top premium supermarket chains with 40 stores in the Klang Valley area alone, this merger is sure to strengthen Grab’s foothold in the Malaysian market. Despite the decrease in ride-hailing revenue amidst the global pandemic, Grab is growing faster than ever. As a matter of fact, the group’s gross merchandise value (GMV) surged 32% to a record $4 billion in the third quarter of 2021, thanks to the 63% jump in GMV for food deliveries.

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Online grocery deliveries are among the fastest growing segments of e-commerce in many Southeast Asian countries. Euromonitor International expects the category to grow even more over the next few years, reaching almost $12 billion by 2025. Just in November, Grab established partnerships with many grocery chains across Indonesia, Malaysia, the Philippines, Thailand and Vietnam. GrabExpress’ same-day delivery is also now available for Lazada’s customers in Singapore.

Source: Grab buying Malaysia grocery chain as Southeast Asian SuperApp taps online shopping boom

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