Makro Cash & Carry Distribution, the owner and operator of Makro hypermarkets in Malaysia, has been put up for sale, controlling shareholder SHV Holdings NV has revealed.

The Dutch firm holds 65% of Makro Malayisa, while Perbadanan Kemajuan Negeri Selangor (PKNS) holds 20.7% and PKNS-LFD Sdn Bhd holds 14.3%. No reason was given for the sale.

“Makro has been in Malaysia since we opened our first store in 1993, pioneering the cash-and-carry concept in this country, and setting the stage for the hypermarket and discount store era,” said Makro Malaysia managing director Pieter C. Boone.

“This represents a unique and attractive opportunity for new shareholders to take over a well-managed and sound business that offers a good footprint of strategically located stores, experienced staff, proven operating systems and a loyal customer base,” he said.

The company operates eight stores in Malaysia.