Jaya Grocer
Jaya Grocer is a Malaysian upscale supermarket chain. As of 2021, it operates 40 stores in Peninsular Malaysia, with most of its locations in the Klang Valley.
| Founder | Teng family |
|---|---|
Number of locations | 40 (2021) |
Area served | Peninsular Malaysia Opening date (11 Jan 1964)(60 years ago) |
| Revenue | RM 1.34 billion (2020) |
Net income | RM 68.65 million |
| Owner | Grab |
| Website | jayagrocer |
The chain was founded in 2007 by the Teng family, aiming to establish a premium supermarket brand. The family previously founded the Teng Minimarket Centre in Bangsar and the Giant supermarket chain before selling both retailers to Hong Kong-based DFI Retail Group. AIGF Advisors, a private equity investor, acquired a 45% stake in Jaya Grocer in 2016 after investing RM 300 million in the chain in 2016. Teng Yew Huat owned the remaining 55% of the company. The Teng family bought back AIGF's stake in 2021.
Jaya Grocer became a subsidiary of Grab, a Singaporean technology company, following its acquisition of the supermarket chain from the Teng family seventeen days after the family's buyback of AIGF's stake. Grab CEO and co-founder Anthony Tan said that the acquisition would allow the company to deliver on-demand groceries to customers faster. Victor Chua, managing partner of Kuala Lumpur-based venture capital firm Vynn Capital, described the Grab acquisition as a "strategic move" by allowing Grab to strengthen its supply chain and expand its business to encompass offline operations.