In a surprising move, DFI Retail Group (DFI or Dairy Farm International) has recently inked an agreement to dispose its food businesses in Malaysia, including the iconic Giant brand, to a local retail group which operates Gama supermarket chain.
Datuk Andrew Lim, the Group Deputy Chairman of Sogo Department Store Sdn Bhd as well as Executive Chairman of the Gama Group, which owns and operates the Gama supermarket and departmental store in Penang said in a statement, “The local retail group shares similar beliefs as DFI in delivering great quality, service and value to customers. By bringing these businesses together under experienced local ownership, both customers and team members (staff) will continue to benefit from the positive changes to Giant, Cold Storage and Mercato that have taken place in recent years, forging an exciting platform for future growth.”
The local group will absorb all 2,500 employees who currently support DFI business in Malaysia.
The Hong Kong-based DFI is exiting Malaysia’s grocery sector after over 2 decades to focus on growing its Guardian Health and Beauty chain.