Retail News CRM

Tag: Creador

  • Mr DIY mulls US$362 million float

    Mr DIY mulls US$362 million float

    Malaysian home improvement brand Mr DIY is considering an IPO to raise about MYR1.5 billion (US$362 million). An industry source has revealed that the firm intends to list its domestic operations later this year on either the Malaysian or Hong Kong exchange with backing from Malaysian private equity firm Creador, which invested in the brand over two years ago.

    A report stated the IPO could bring Mr DIY to a market value of MYR10 billion (US$2.426 billion).

    Mr DIY operates around 600 locations in Southeast Asia. Last October, the company revealed plans to open at least 1000 branches by 2020.

    Head of marketing Andy Chin said then: “We feel that our home improvement retail business model, offering a variety of goods at affordable prices, is suitable for better business growth in the country as well as the Asean market. At the end of this year, we target 700 global branches, and the number may reach 1000 or more by 2020. These will be based on an organic growth.”

    He added that the company’s prospect of Asean-level expansion will be focused on Indonesia, Thailand and the Philippines”.

    Mr DIY is the largest home appliance retailer in Malaysia with more than 20,000 SKUs.

  • Investors eye Jaya Grocer Malaysia

    Investors eye Jaya Grocer Malaysia

    Jaya Grocer Malaysia is attracting the interest of private equity firms wanting to buy a shareholding of up to 49 per cent.

    Creador, TPG Growth and a Japanese fund based in Singapore have been shortlisted in a deal said to value the supermarket chain at about RM175 million (US$43.8 million), reports The Star. It quotes sources as saying the exercise for the sale of an equity stake began last year.

    Other firms initially interested in a shareholding included the Abraaj Group and Navis Capital Partners.

    Jaya Grocer is owned by Trendcell, with its 16 outlets posting RM18 million in earnings last year. The chain opened its first outlet in Petaling Jaya in 2007, and now has outlets in such malls as the Empire Shopping Gallery, KLIA2 and The Intermark.

    Jaya Grocer was founded by the Teng family, which also founded Giant Hypermarket and Teng MiniMarket Centre (TMC) in Bangsar. The family sold the Giant chain to Hong Kong-based Dairy Farm group in 1999 for an undisclosed amount. Meanwhile, TMC has been wholly owned and run by GCH Retail (Malaysia) since 1980. Also run by the Teng family is Pasaraya Hero, launched in 2010.

    It is unclear if the current sale process, being run through an open-bid system by Deloitte, includes these supermarkets.

    Meanwhile, Navis has invested in Jaya Grocer competitor Village Grocer the Big Group, which runs Ben’s Independent Grocer.