KUALA LUMPUR (Sept 8): Private equity firm Navis Capital Partners has completed the divestment of The Food Purveyor Sdn Bhd that operates the Village Grocer supermarkets to a Thai conglomerate.
The deal’s final price was not disclosed by Navis or the buyer CP Axtra Public Company Ltd. The transaction estimated value was RM1.66 billion as announced in March 2026 by CP Axtra, the retail unit of Thai multi-national conglomerate CP Group.
CP Group’s experience in food retailing will significantly boost The Food Purveyor’s “product offering, logistics capability, technology adoption and international reach,” Navis managing partner Rodney Muse said in a statement.
The Food Purveyor also operates Ben's Independent Grocer, BSC Fine Foods, Pasaraya OTK and The Food Merchant. The company was founded by the Ong family and opened its first premium Village Grocer store in Bangsar in 2004.
In 2014, Navis invested in The Food Purveyor that has since expanded to 55 stores across Peninsular Malaysia. Following the divestment, The Food Purveyor is an indirect subsidiary of CP Axtra through Lotuss Stores (Malaysia) Sdn Bhd that owns the Lotus’s hypermarket chain in Malaysia.
Navis has been advised by Rothschild, Wong & Partners and PricewaterhouseCoopers.