CPAXT spends 13.48bn baht to buy The Food Purveyor, expanding premium retail in Malaysia

CP Axtra Plc (CPAXT) has notified the Stock Exchange of Thailand that on March 3, 2026, Lotuss Stores (Malaysia) Sdn Bhd—an indirect subsidiary 100% owned by the company—signed a share sale and purchase agreement to acquire 100% of The Food Purveyor Sdn Bhd, a Malaysia-incorporated premium supermarket operator.

The Food Purveyor operates premium grocery brands including Village Grocer, Ben’s Independent Grocer (B.I.G.), BSC Fine Foods, OTK, and The Food Merchant. After completion, The Food Purveyor will become a subsidiary of CPAXT.

The deal values the investment at RM1.66 billion, equivalent to about 13.483 billion baht, and CPAXT said it would not affect the company’s financial position. The company described the move as part of its strategic expansion into high-potential overseas markets and said it expects the investment to benefit the business.

CPAXT said the acquisition supports expansion in Malaysia—seen as a strategic market with strong economic growth and purchasing power—while strengthening its reach into the premium segment via The Food Purveyor’s 50 branches. Combined with around 70 Lotus’s stores in Malaysia, CPAXT said it would have a nationwide network of more than 120 outlets, improving access to urban and higher-income locations and broadening its customer base.

The company also pointed to complementary strengths, with Lotus’s experienced in supermarket and hypermarket operations and network management, while The Food Purveyor specialises in premium retail—supporting growth across different spending tiers.

CPAXT expects the transaction to be completed in Q4 2026, subject to approvals from relevant regulators. It said the investment aligns with its long-term regional strategy and its ambition to become a leading wholesale and retail player in the region.