Jaya Grocer
 | |
| Company type | Subsidiary |
|---|---|
| Founder | Teng family |
Number of locations | 40 (2021) |
Area served | Peninsular Malaysia |
| Revenue | RM1.34 billion (2020) |
| RM68.65 million | |
| Parent | Grab |
| Website | jayagrocer |
Jaya Grocer is a Malaysian upscale supermarket chain. As of 2024, it operates 50 stores in Peninsular Malaysia, with most of its locations in the Klang Valley.[1]
The chain was founded in 2007 by the Teng family, aiming to establish a premium supermarket brand. The family previously founded the Teng Minimarket Centre in Bangsar and the Giant supermarket chain before selling both retailers to Hong Kong–based DFI Retail Group. AIGF Advisors, a private equity investor, acquired a 45% stake in Jaya Grocer in 2016 after investing RM300 million in the chain in 2016. Teng Yew Huat owned the remaining 55% of the company. The Teng family bought back AIGF's stake in 2021.[2]
Jaya Grocer became a subsidiary of Grab, a Singaporean technology company, following its acquisition of the supermarket chain from the Teng family seventeen days after the family's buyback of AIGF's stake.[2] Grab CEO and co-founder Anthony Tan said that the acquisition would allow the company to deliver on-demand groceries to customers faster.[3] Victor Chua, managing partner of Kuala Lumpur–based venture capital firm Vynn Capital, described the Grab acquisition as a "strategic move" by allowing Grab to strengthen its supply chain and expand its business to encompass offline operations.[4]
References
[edit]- ^ "Jaya Grocer now has 50 outlets nationwide". The Vibes. 5 February 2024. Retrieved 21 April 2024.
- ^ a b Ganesan, Vasantha (14 December 2021). "Grab takes control of Jaya Grocer in deal said to be worth up to RM1.8 bil". The Edge Markets. Retrieved 6 January 2023.
- ^ Wong, Dale John (16 February 2022). "4 things we can expect to happen after Grab's takeover of Malaysia's Jaya Grocer". Mashable SEA. Retrieved 6 January 2023.
- ^ Samarathisa, Emmanuel (20 January 2022). "Making sense of Grab's Jaya Grocer acquisition". Tech in Asia. Retrieved 6 January 2023.