KUALA LUMPUR: Grab Holdings Ltd has accomplished its acquisition of a majority stake in mass-premium grocery store chain Jaya Grocer Holdings Sdn Bhd.
“It is our vision to make on-demand groceries more accessible for everyone. Jaya Grocer is known for their wide selection of good-quality fresh produce and grocery products.
“By combining our extensive on-demand delivery fleet and capabilities, with Jaya Grocer’s strong retail presence and supplier network, we can have these quality products delivered to more homes even faster.
“We believe this partnership will further accelerate the growth of our groceries delivery business, and we are excited by the immense opportunity ahead of us,” stated Grab group CEO and co-founder Anthony Tan in a press release.
In the identical assertion, Grab and Jaya Grocer introduced it had rolled out GrabPay and GrabRewards throughout all Jaya Grocer bodily retail shops, increasing the utilization of Grab’s standard cashless pockets.
“I have built Jaya Grocer from the ground up – from our first store in Klang Valley to over 40 stores today. Grab’s strong track record and ability to execute in a hyperlocal way gives me confidence that I have found the right partner to take Jaya Grocer to new heights.
“This acquisition provides us with an amazing opportunity to not only grow as a company, but also grow the market for online grocery services in Malaysia,” stated Jaya Grocer founder Teng Yew Huat.
According to Grab, on-demand grocery and specialty retail market GrabMart recorded three straight quarters of development within the first three quarters of 2021.
Jaya Grocer additionally noticed continued robust development, with revenues rising at double-digit charges year-on-year from 2018 to 2020, and is EBITDA accretive to Grab’s enterprise, it added.
Moving ahead, Grab is scaling its GrabMart market by partnering with retailers to supply customers with better product selection and comfort.
“The acquisition allows Grab to deliver extra Jaya Grocer retail shops onto its market, whereas additionally leveraging Jaya Grocer’s massive provider community to additional broaden its GrabGrocery store product line at decrease prices.
“This in flip contributes to improved unit economics and general affordability of grocery supply,” it stated.
