In a major shift in the grocery retail sector, all Cold Storage and Giant supermarket outlets in Singapore will be sold to Malaysian retail conglomerate Macrovalue for an initial sum of $125 million. This deal, announced on March 24, marks a significant transition for both supermarket chains, which have been key players in Singapore’s retail landscape for decades.
The agreement covers 48 Cold Storage stores—including CS Fresh, CS Gold, and Jason’s Deli brands—41 Giant outlets, and two distribution centers. The acquisition is set to be completed in the second half of 2025, giving Macrovalue full control over these businesses.
What Does This Sale Mean for Shoppers?
With Macrovalue already owning the Cold Storage and Giant operations in Malaysia, this acquisition is expected to streamline operations, optimize supply chain management, and enhance customer experience in Singapore. According to Macrovalue co-owner Andrew Lim, this move will drive efficiency and improve product range and pricing for Singaporean shoppers.
“We will ensure the continuity of local management and operational teams to continuously improve the quality of service for our customers,” said Lim. “Additionally, Macrovalue’s operations in Malaysia will support Cold Storage’s supply chain in Singapore, improving range and value.”
Shoppers can expect minimal disruption during the transition, with promises of competitive pricing and improved inventory selection.
DFI’s New Strategic Focus: Guardian and 7-Eleven
DFI Retail Group, the current owner of Cold Storage and Giant, is shifting its focus toward Guardian pharmacies and 7-Eleven convenience stores in Singapore and the broader region. With over 120 Guardian outlets and 450+ 7-Eleven stores in Singapore alone, DFI sees greater growth opportunities in these sectors compared to traditional supermarkets.
Scott Price, CEO of DFI, emphasized the importance of scale and efficiency in today’s inflationary climate. “It is essential to leverage operational efficiencies to protect customers from price volatility while maintaining quality and service standards,” he stated.
How This Acquisition Affects Supermarket Competition in Singapore
The Singapore supermarket industry is highly competitive, with major players like FairPrice, Sheng Siong, and now Macrovalue vying for market share. FairPrice remains the dominant chain with 164 stores island-wide, while Sheng Siong continues to expand with 77 outlets, including a new location in Punggol.
With Macrovalue’s entry into the Singapore market, competition is expected to intensify. Given its strong presence in Malaysia and increased procurement power across both countries, Macrovalue may be able to offer more competitive prices and a broader product selection, benefiting cost-conscious consumers.
The Road Ahead for Cold Storage and Giant
The transition of Cold Storage and Giant under Macrovalue’s ownership presents both opportunities and challenges. While the promise of improved efficiency and competitive pricing is appealing, shoppers will be watching closely to see how these changes materialize in practice. With a continued emphasis on convenience, affordability, and quality, the Singapore supermarket landscape is set for an exciting evolution in the coming years.
As the deal progresses, Macrovalue’s execution of its strategy will determine whether Cold Storage and Giant can retain and grow their customer base in a competitive market. For now, Singaporean shoppers can expect business as usual—but with the potential for better deals on the horizon.
