Grab acquires Malaysian supermarket chain Everrise
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Ride-hailing Grab is acquiring Malaysian supermarket chain Everrise as part of its ongoing efforts to grow its grocery business in a vital market.
The company is purchasing the supermarkets from Navis Capital Partners but has not revealed the deal’s value, it said in an announcement Monday as reported by Bloomberg.
Everrise operates 19 high-end grocery in East Malaysia.
Grab intends to modernize Everrise’s operations with digital tools and introduce on-demand grocery delivery for its customers.
The move came three years after Grab’s acquisition of Jaya Grocer, a larger Malaysian chain primarily based in the Klang Valley near Kuala Lumpur.
As Southeast Asia’s leading ride-hailing and food delivery company, Grab is venturing into new sectors like online banking and groceries to stay competitive with rivals such as Indonesia’s GoTo Group.
Questions & Answers
Q.What is the primary reason Grab is acquiring Everrise?
What is the primary reason Grab is acquiring Everrise?
Grab is acquiring Everrise to expand its grocery business within Malaysia. This acquisition is part of its ongoing efforts to grow this sector in a vital market, following a similar move three years prior.
Q.Where does the supermarket chain Everrise primarily operate?
Where does the supermarket chain Everrise primarily operate?
Everrise primarily operates in East Malaysia, where it runs 19 high-end grocery stores. This location differs from Grab's previous grocery acquisition, Jaya Grocer, which was based near Kuala Lumpur.
Q.How does Grab intend to change Everrise's operations?
How does Grab intend to change Everrise's operations?
Grab plans to modernise Everrise's operations by integrating digital tools. It also intends to introduce on-demand grocery delivery services for its customers, enhancing convenience and efficiency.
Q.Who is Grab's main competitor mentioned in the article?
Who is Grab's main competitor mentioned in the article?
Grab's main competitor mentioned in the article is Indonesia's GoTo Group. Grab is expanding into new sectors like online banking and groceries to maintain competitiveness against rivals such as GoTo Group.
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