This article first appeared in The Edge Malaysia Weekly on December 6, 2021 - December 12, 2021

Share transactions on Malaysia’s consumer goods scene have remained active despite the raging pandemic. Two weeks ago, high-end supermarket chain Jaya Grocer saw a change in ownership back to its founder, the Teng family, who bought the entire stake from AIGF Advisors Pte Ltd.

On the other hand, Munchy Food Industries is now owned by the Philippines-based Universal Robina Corp, which acquired the entire equity interest in the popular local biscuit maker from private equity firm CVC Capital Partners for RM1.925 billion.

Founded in 2007, Jaya Grocer is a clear pandemic winner, having raked in RM1.32 billion in sales last year. With the Teng family regaining control of the supermarket chain, it has fuelled speculation that a potential listing exercise could be in the offing to realise its value.

Recall that homegrown kopitiam operator OldTown Bhd was taken private in April 2018 after a RM1.47 billion offer by Dutch company Jacobs Douwe Egberts Holdings Asia NL BV, putting an end to its almost seven-year history on Bursa Malaysia.

Experts have said that Southeast Asia may witness its busiest mergers and acquisitions (M&A) year in more than a decade, with the Philippines and Indonesia being the most active markets.

Will Malaysian brands continue to attract foreign buyers with private equity firms in the region actively on the lookout for acquisition targets?

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