Tesco Malaysia is now Lotuss Stores Malaysia
By NST PROPERTY – February 15, 2021 @ 8:01pm
Tesco Stores (Malaysia) Sdn Bhd, which operates around 60 Tesco and Tesco Extra stores nationwide has officially changed its name to Lotuss Stores Malaysia Sdn Bhd.
The hypermarket chain disclosed this today on its official Facebook page.
Based on the Facebook page, the company will complete its re-branding exercise by the end of 2021.
Lotuss Stores Malaysia is a member of Thailand’s biggest agribusiness conglomerate, Charoen Pokphand Group Co., Ltd (CP Group).
The Thai group acquired Tesco Malaysia’s business in December 2020 following the asset sale by Tesco, Britain’s biggest retailer.
The British retailer sold its entire shareholding in Tesco Stores (Thailand) Ltd and Tesco Stores Malaysia to CP Group for an enterprise value of US$10.6 billion.