DFI Retail Group disposes food businesses in Malaysia

The company wants to focus on expanding its health and beauty business.

DFI Retail Group has agreed to sell its food businesses in Malaysia, including Giant, to a local retail group led by entrepreneur Datuk Andrew Lim for an undisclosed amount, the company said in a press release.

Chris Bush, the chief executive officer (CEO) of DFI in Southeast Asia, said the agreement will allow the company to focus its priorities exclusively on the expansion of its Guardian Health and Beauty business in the country.

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Completion of this transition is expected to take place in early March 2023.

Lim is currently the Group Deputy Chairman of SOGO Department Store, as well as the Executive Chairman of the GAMA Group which owns and operates the iconic GAMA Supermarket & Departmental Store in Penang.