GCH Retail Has Bid For Makro
Besides organic growth, hypermarket giants has frequently embarked on acquisition trail to buy up other chains as a quick way for its expansion plan. ( refer earlier article on reasons for companies to go M&A trail.)
Recently, reported in The Edge (6/10/06), there is this proposed acquisition by GCH Retail for Makro:
“GCH Retail (Malaysia) Sdn Bhd has made a bid for Makro Cash & Carry Distribution (M) Sdn Bhdâ€
If the bid is successful, this would make GCH Retail (Malaysia) Sdn.Bhd stable increased with another eight stores(Makro) in Malaysia.
Incidentally, CGH Retail, which is part of the Dairy Farm Group, operates 11 Cold Storage outlets, 62 Giant and 194 Guardian stores nationwide, employing more than 9,000 people.
As for the Makro:
- It is the country’s first cash-and-carry wholesale store that was set up in 1993;
- The intended sellers who are shareholders are Netherlands-based SHV Holdings NV, which holds a 65% stake in Makro; Perbadanan Kemajuan Negeri Selangor (PKNS), which owns 20.7% and PKNS-LFD Sdn Bhd (14.3%);
- Makro has eight stores in Malaysia, with the flagship store in Shah Alam. The others are in Cheras, Selayang, Ipoh, Johor Bahru, Penang island, Seberang Perai and Seremban.
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October 24, 2006
Posted in: M&As
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