Grab Completes Acquisition Of Jaya Grocer

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Grab group CEO Anthony Tan said they want to make on-demand groceries more accessible to everyone.PETALING JAYA: Grab has officially completed its acquisition of a majority stake in supermarket chain Jaya Grocer, the companies have announced.
Both companies plan on working together to bring on-demand groceries to a wider range of customers, they said in a joint statement today.
Grab Pay and Grab Rewards, two features of the company’s super app, will also be rolled out across all Jaya Grocer outlets.
The company said that during the pandemic, 64% of internet users purchased groceries online at least once but that this only accounted for 2% of the total spent on grocery products.
Anthony Tan.“It is our vision to make on-demand groceries more accessible to everyone,” said Grab co-founder and group CEO Anthony Tan.
“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 have these quality products delivered to more homes even faster.”
Teng Yew Huat, founder of Jaya Grocer, said Grab’s strong track record and performance gave him confidence that it was the right partner to take the grocery chain 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,” Teng said.
According to the e-Conomy Southeast Asia Report 2021, online groceries in the region is estimated to eventually grow into a US$50 billion (RM209 billion) market, the size of the entire e-commerce market today.- FMT

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