Grab Holdings Inc is acquiring the entire stake in Eastern Grocer Sdn Bhd, the operator of Everrise supermarkets, from Kuala Lumpur-based private equity firm Navis Capital Partners.

Navis invested in the company in 2019, shifting its focus from the mass market to premium grocery retail, with 19 outlets in Sabah and Sarawak.

This move follows Grab’s acquisition of a majority stake in Jaya Grocer two years ago, reinforcing its expansion in the grocery retail sector.

The deal is expected to drive digital advancements in grocery shopping in East Malaysia.

Navis Capital manages around US$5 billion in private equity and credit capital.

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