Lotus’s Stores (Malaysia) Sdn. Bhd. has signed an agreement to acquire shares in The Food Purveyor Sdn. Bhd., a move that covers four distinct brands and a total of 50 stores.
CP Axtra Public Company Limited (CPAXT), the parent company of the Lotus’s subsidiary, confirmed that the acquisition includes the brands Village Grocer, B.I.G., BSC Fine Foods, OTK, and The Food Merchant.
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Lotus’s Malaysia expands retail footprint
CPAXT stated that the deal is expected to be completed by Q4 of this year, pending approvals from the relevant regulatory authorities.
It added that, once combined with Lotus’s 70 existing stores in Malaysia, the company will operate a total of 120 stores nationwide, helping to strengthen its diverse customer base and serve all consumer segments.
“This investment in The Food Purveyor is part of CPAXT’s long-term regional expansion strategy, supporting sustainable growth and moving us closer to our goal of becoming a leading wholesale and retail operator in the region,” the statement read.
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It also added that it is aiming to expand into prime urban locations and high-income neighbourhoods, giving it faster access to strategic areas and customers with strong purchasing power.
“Lotus’s brings extensive experience in managing large-scale supermarket and hypermarket networks, while The Food Purveyor specialises in premium retail, boosting growth potential across all customer segments,” it said.
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