KUALA LUMPUR: Village Grocer Holdings Sdn Bhd (VGH) has acquired a 100% stake in Bens Independent Grocer Sdn Bhd (B.I.G) and aims to expand both brands by opening a few more outlets in and outside the Klang Valley over the next 18 months.
Group executive chairman Ong Kim Too said the acquisition of B.I.G is a strategic business decision that fits in very well with the group’s long term growth and expansion plans within the premium grocery market.
“Both Village Grocer and B.I.G have very strong, distinct identities. Through the years, both have attracted strong consumer followings respectively,” he said in a statement.
He said with this acquisition, VGH has an opportunity of extracting procurement and operational synergies to better serve a growing market segment.
The acquisition sees VGH gaining control over B.I.Gs chain of grocery outlets, further strengthening its position as one of the leaders within the premium grocery segment.
Both VGH and B.I.G have together 13 outlets and a combined annual revenue of about RM560mil.
The BIG group is divesting its retail grocery business to focus on and grow its F and B business which has a stable of widely recognisable brands under its umbrella.
Founded in 2004 with its first Village Grocer outlet at the Bangsar Village Mall here, VGH today operates ten outlets in the Klang Valley, including its recently opened ones at MyTOWN Shopping Centre in Cheras and KL Gateway Mall in Bangsar South.
Meanwhile, B.I.G was founded in 2011 and its outlets are located at the Publika Shopping Gallery, Plaza Batai and Glo Damansara - Bernama.