Giant operator Dairy Farm to exit Malaysian hypermart scene
KUALA LUMPUR, Feb 23 — Dairy Farm International Ltd is reportedly leaving Malaysia’s grocery retail sector in which it operates the Giant, Mercato and Giant Mini chains, according sources.
The Edge Markets reported the sources as saying the Hong Kong-based firm was departing the Malaysian market after over two decades due to growing competitiveness here.
The business news outlet said DFI was believed to have sold of its stake in the local operations — GCH Retail (Malaysia) Sdn Bhd — for several billion to a Malaysian conglomerate headed by Datuk Andrew Lim, the group executive chairmain of KL Sogo.
DFI confirmed the planned sale in a statement later, but clarified that it was not leaving Malaysia entirely as it would continue to own and operate the Guardian Health and Beauty chain.
“We are delighted to be able to transition our food business to such a well-respected and successful local retail group, who will also be retaining our dedicated team members as well,” said Chris Bush, DFI Group’s CEO of Southeast Asia.
GCH started its operations here in 1999 when it took over the homegrown Giant supermarket chain at the time.
According to The Edge Markets, GCH had been rapidly closing its outlets since 2019, and more than halved its number of outlets by 2021.
