Grab buys Malaysia’s Everrise supermarket chain to add to grocery push
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Grab plans to digitise Everrise’s operations and offer on-demand grocery delivery to its customers.
PHOTOS: AZMI ATHNI, EVERRISE/FACEBOOK
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SINGAPORE - Grab Holdings is buying a chain of supermarkets in Malaysia, adding to its push to expand in groceries in one of its key markets.
The company is acquiring Everrise supermarkets from Navis Capital Partners. Grab did not disclose the deal value in its statement on March 3.
Based in Kuching, Everrise is a premium grocery store chain with 19 outlets across Sabah and Sarawak in East Malaysia.
Grab plans to digitise Everrise’s operations and offer on-demand grocery delivery to its customers.
The deal follows its purchase three years ago of bigger Malaysian chain Jaya Grocer, whose majority of stores are located in the Klang Valley near Kuala Lumpur.
South-east Asia’s largest ride-hailing and food delivery player is pushing into new areas, such as online banking and groceries, amid intense competition with rivals such as Indonesia’s GoTo Group. BLOOMBERG
