Private equity firm Navis Capital Partners is selling its entire stake in Eastern Grocer Sdn Bhd, the company behind Everrise supermarkets, to tech giant Grab Holdings Inc. The financial terms of the deal were not disclosed, according to a report by The Edge.
Navis Capital first invested in Eastern Grocer in 2019, when the supermarket primarily catered to the mass market. Since then, Everrise has expanded into the premium grocery sector, operating 19 outlets across Sabah and Sarawak.
In a separate event, Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg met with Grab Malaysia’s leadership, including Group CEO and Co-Founder Anthony Tan, to discuss the company’s investment plans in Sarawak. This aligns with the Sarawak Digital Economy Master Plan 2030.
The meeting was attended by Grab Malaysia’s Managing Director Adelene Foo, Director of Public Affairs and Policy Ebi Azly Abdullah, Head of Commercial Kelvin Lam, and Country Director of Strategy Ben Chin.
During the visit, Grab Malaysia signed an MoU with Sarawak Digital Economy Corporation Berhad (SDEC) to accelerate digital transformation, focusing on boosting tourism and small businesses in the state.
