PETALING JAYA: XL Holdings Bhd
has entered into an agreement to acquire a network of 34 “Giant Mini” outlets across the Klang Valley for RM15mil, marking its entry into the convenience retail segment.
In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, XL Retail Sdn Bhd, signed an asset purchase agreement with Jutaria Gemilang Sdn Bhd on April 30, 2026.
The acquisition includes tenancy rights to the outlets, along with furnishings, equipment, inventories and employees associated with the business.
XL said the move represents a strategic diversification from its existing operations, providing exposure to a segment supported by resilient consumer demand and recurring income streams.
The outlets, which already have an established customer base, are expected to contribute positively to group revenue over time.
The purchase will be funded internally and is scheduled for completion by May 31, 2026, subject to customary conditions.
Upon completion, XL will be granted a one-year licence to operate under the “Giant Mini” brand, with an option to extend.
