PETALING JAYA (April 13): Village Grocer Holdings Sdn Bhd (VGH), the owner of premium supermarket chain Village Grocer has acquired a 100% stake in Ben’s Independent Grocer Sdn Bhd (B.I.G.) from BIG Sdn Bhd.
According to a press release today, VGH said the acquisition sees the company gaining control of B.I.G.’s chain of grocery outlets.
This strengthens VGH’s position as one of the leaders in the premium grocery segment, with VGH and B.I.G. having a total of 13 outlets and combined annual revenue of approximately RM560 million, it said.
Following the acquisition, both Village Grocer and B.I.G. will continue to exist and operate as separate brands, and B.I.G. will continue to be run by its present management team.
VGH group executive chairman Ong Kim Too said the acquisition of B.I.G. is a strategic business decision that fits in very well with the company’s long-term growth and expansion plans within the premium grocery segment.
“Both Village Grocer and B.I.G. have very strong, distinct identities and have through the years attracted strong consumer followings respectively. With this acquisition, we have an opportunity of extracting procurement and operational synergies to better serve a growing market segment.
“Most importantly, we are able to provide the increasingly discerning Malaysian consumers with a wider range of local as well as imported products that are of the highest quality, freshness and value,” he said.
He added that expansion plans for both brands are in the pipeline and it is targeting to open a few more outlets in, and beyond, the Klang Valley over the next 18 months.
Meanwhile, BIG Sdn Bhd group founder and chief eating officer Benjamin Yong said: “B.I.G. has managed to grow to where it is today within a relatively short period of time and we are confident that Village Grocer Holdings can grow the brand further. We are extremely excited for the next phase of B.I.G.’s evolution.”
BIG is divesting its retail grocery business to focus on and grow its F&B business.
Both Village Grocer and B.I.G. have been growing steadily over the years, recording double digit growth.
Founded in 2004 with its first Village Grocer outlet in Bangsar Village mall, VGH today operates a total of 10 outlets in the Klang Valley including its recently opened ones at MyTOWN Shopping Centre in Cheras and KL Gateway Mall in Bangsar South.
B.I.G. was founded in 2011 and its outlets are located in Publika Shopping Gallery, Plaza Batai and Glo Damansara.
Source : www.theedgeproperty.com.my