Companies / Malaysia
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Tesco Clinches Makro Deal
December 2006 | Company News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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According to reports in the local press, UK retailer Tesco has successfully outbid the competition to take over the Makro Cash & Carry store network. Makro Cash & Carry Distribution, the Malaysian subsidiary of Dutch wholesale specialist SHV Holdings NV and the operator of Makro-branded hypermarkets were put up for sale in September, with no explanation given for the departure. This created quite a stir in Malaysia's mass grocery retail (MGR) sector, as a number industry key players were said to be in talks over the purchase, including GCH Retail, a member of the Dairy Farm Group, as well as