Grab has completed the acquisition of a majority stake in Malaysia’s mass-premium supermarket chain Jaya Grocer, the tech giant announced today.
The acquisition enables Grab to bring more Jaya Grocer retail stores onto its marketplace and leverage Jaya Grocer’s large supplier network further to expand its GrabSupermarket product line at lower costs. This way, the two companies plan to bring on-demand grocery delivery to more consumers in the Southeast Asian country.
Additionally, Grab and Jaya Grocer also announced the rollout of GrabPay and GrabRewards across all Jaya Grocer physical retail stores, expanding the former’s cashless wallet usage.
“It is our vision to make on-demand groceries more accessible for everyone. Jaya Grocer is known for its 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 deliver these quality products to more homes even faster,” said Anthony Tan, Group CEO and Co-Founder, Grab.
Also Read: Grab injects Series C funding into Indonesia’s e-investment platform Bareksa
Established in 2008, Jaya Grocer operates over 40 stores today, with the majority located in Klang Valley.
“I have built Jaya Grocer from the ground up — from our first store in Klang Valley to over 40 stores today. Grab’s solid 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,” said Teng Yew Huat, Founder, Jaya Grocer.
The acquisition comes at a time of accelerated growth in on-demand grocery delivery services. As much as 64 per cent of Southeast Asia’s internet users purchased groceries online at least once during the pandemic, yet online grocery transactions only accounted for approximately 2 per cent of the total grocery spend.
It is estimated that online grocery in Southeast Asia could grow to US$50 billion in gross merchandise value — the size of the entire e-commerce market today — at a 10 per cent penetration rate similar to advanced markets.
—
Ready to meet new startups to invest in? We have more than hundreds of startups ready to connect with potential investors on our platform. Create or claim your Investor profile today and turn on e27 Connect to receive requests and fundraising information from them.
The post Grab acquires Jaya Grocer to expand its on-demand grocery delivery in Malaysia appeared first on e27.