Jaya Grocer
FounderTeng family
Number of locations
40 (2021)
Area served
Peninsular Malaysia
RevenueRM 1.34 billion (2020)
RM 68.65 million
OwnerGrab
Websitejayagrocer.com

Jaya Grocer is a Malaysian upscale supermarket chain. As of 2021, it operates 40 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 RM 300 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

  1. ↑ "Grab to acquire Malaysian supermarket chain Jaya Grocer". The Straits Times. 14 December 2021. Retrieved 6 January 2023.
  2. 1 2 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.
  3. ↑ 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.
  4. ↑ Samarathisa, Emmanuel (20 January 2022). "Making sense of Grab's Jaya Grocer acquisition". Tech in Asia. Retrieved 6 January 2023.
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