Thailand’s retail giant CP Axtra Public Company which operates the Lotus’s and Makro brands, announced that its indirect subsidiary, Lotuss Stores (Malaysia) Sdn. Bhd., has entered a definitive agreement to acquire 100% of The Food Purveyor Sdn. Bhd. (TFP).
The deal, valued at approximately RM1.66 billion (THB 13.48 billion), will see CP Axtra take over Malaysia’s leading premium supermarket brands, including Village Grocer, Ben’s Independent Grocer (B.I.G.), BSC Fine Foods, Pasaraya OTK, and The Food Merchant.
While CP Axtra currently dominates the hypermarket and discount retail sector through its 70 Lotus’s outlets in Malaysia, this acquisition marks a strategic pivot toward higher-income demographics. TFP currently operates 50 premium outlets across the Klang Valley, Penang, and Johor Bahru.
According to the company filing, the merger will create a combined nationwide network of over 120 stores, allowing the group to capture a broader spectrum of the Malaysian consumer market—from price-sensitive shoppers at Lotus’s to affluent urbanites frequenting Village Grocer.
“The move forms part of our strategy to strengthen our presence in Malaysia, a strategic market supported by solid economic fundamentals,” the company stated in its official announcement.
The transaction is expected to be completed within the fourth quarter of 2026. However, the deal remains subject to the fulfillment of conditions precedent and the receipt of approvals from relevant Malaysian and Thai regulatory authorities.
CP Axtra, part of the Charoen Pokphand (CP) Group, has been on a regional expansion spree since re-acquiring the Lotus’s business (formerly Tesco) in 2020.
