KUALA LUMPUR, March 4 — Thailand’s CP Axtra Public Company Ltd has agreed to acquire The Food Purveyor, the Malaysian operator of Village Grocer and Ben’s Independent Grocer, in a deal valued at RM1.7 billion.

The Edge reported that CP Axtra disclosed the proposed acquisition in a filing to the Thai Stock Exchange.

The company said the transaction, which also covers BSC Fine Foods, Pasaraya OTK and The Food Merchant, is expected to be completed in the fourth quarter of 2026.

“However, the parties are in the process of fulfilling the conditions precedent as specified in the share sale and purchase agreement, including obtaining approvals from the relevant regulatory authorities,” said CP Axtra.

CP Axtra said the parties are still working to meet conditions set out in the share sale and purchase agreement, including securing approvals from relevant regulators.

The retailer, part of Thailand’s Charoen Pokphand Group, is expanding its Southeast Asian presence as consumer sentiment in its home market remains subdued.

CP Group already operates Malaysia’s Lotus’s chain, formerly Tesco, which it acquired in 2020.

Industry sources told The Edge that several mall owners and operators have been informed of the impending change in ownership at The Food Purveyor.

Village Grocer and Jaya Grocer are currently the two largest premium supermarket chains in Malaysia.

Grab Holdings Ltd acquired a majority stake in Jaya Grocer in 2022 in a deal estimated at up to RM1.8 billion.

 Malay Mail – Money