MY Hero Hypermarket Sdn Bhd, the operator of the HeroMarket grocery chain and Hero Save Mart stores, have approached private equity (PE) firms including Navis and Intermediate Capital Group (ICG) with a view to selling the chain for some US$100 million (RM445 million), sources say. My Hero, which operates 25 HeroMarket and six Hero Save Marts, had hired OCBC Advisers (M) Sdn Bhd as the financial adviser to negotiate a deal with potential purchasers and to conduct the sale process. In Malaysia, Navis holds a stake in TFP Retail Sdn Bhd, which operates the Village Grocer and Ben’s Independent Grocer (BIG) premium grocery stores. Francis and his siblings founded the very first Giant store in Kelana Jaya in 1982. He is also the founder of RM2 store Noko, which is operated by Megah Inovatif Sdn Bhd.
