Dairy Farm International Holdings has significantly broadened its exposure to the Malaysian consumer goods and food market.
This follows the company's acquisition of a 90 per cent interest in local supermarket chain Giant TMC for an undisclosed figure.
The move was part of a concerted strategy by Dairy Farm to refocus on Asian markets, which it foreshadowed when it closed down its European and Japanese operations last year.
The company bought Indonesia's Hero supermarket chain last year.
'Dairy Farm has been looking for opportunities to expand its presence in Malaysia for some time,' said the group's chief executive, Ron Floto.
Under the terms of the agreement, which is subject to regulatory approval, Giant's shareholders will continue to be involved in the business.