Introduction

Cold Storage, an iconic supermarket chain that has been ingrained in the heart and soul of Singapore for an impressive 120 years, is on the brink of a transformative transition. On March 24, 2025, it was announced that Malaysian retail giant Macrovalue will acquire Cold Storage along with its sister brand Giant for a staggering S$125 million (approximately US$93 million). This acquisition marks a pivotal moment in the history of one of Singapore’s most beloved grocery chains.

Founding and Early Years

Tracing its roots back over a century, Cold Storage began its journey on June 8, 1903, when it was founded as the Singapore Cold Storage Company. Initially focused on storing and distributing frozen foods and perishables, it took on the role of a pioneer in this field across Malaya.

Expansion and Innovation

In 1905, Cold Storage opened its very first retail outlet on Orchard Road, a bustling commercial hub today but not as prominent back then. This location showcased products including frozen meats, poultry, and dairy items imported from Queensland, Australia. The initial inventory was kept fresh in a specialized refrigerated facility capable of holding 400 tonnes of goods, based at Keppel Harbour.

By 1923, Cold Storage had made its mark in the local food scene by becoming Singapore’s first ice cream manufacturer. Its first ice cream brand, initially known as Paradise, underwent a rebranding in 1937 and emerged as the now-legendary Magnolia, synonymous with quality ice cream in the region.

The late 1930s brought another groundbreaking achievement: the establishment of the world's first tropical dairy farm by Cold Storage. Located on a 24-hectare plot filled with lush greenery, the farm was envisioned by managing director Fred Heron to enhance the quality of milk available in Singapore. Initially, it started with 24 Friesian cows, imported from the Netherlands and Australia, marking a significant agricultural milestone. Though the farm ceased operations in the 1970s, its legacy lives on through local landmarks like Dairy Farm Road and the Dairy Farm Nature Park.

Cultural Impact and Community Engagement

Cold Storage continued its innovation streak into the 1950s, implementing Singapore's first self-service supermarket model at its Orchard Road outlet in 1959. This pioneering concept revolutionized grocery shopping behavior, while Cold Storage’s snack bars, particularly the Magnolia milk bars, became a social hub for students and couples, especially renowned during the 1980s for their delicious ice creams and milkshakes.

In a significant cultural contribution, Cold Storage sponsored the iconic National Day song "We Are Singapore" in 1987, a gesture described by the National Library Board as “a gift to the nation.” This connection to Singapore’s national identity only heightened Cold Storage's stature among the local populace.

Looking Ahead

Now, as Cold Storage embarks on this new chapter under Malaysian ownership, this historical timeline reflects the resilient spirit and adaptability of a grocery brand that has not only survived but thrived through decades of change. The future holds promising opportunities for Cold Storage as it seeks to innovate while staying true to its legacy in the heart of Singapore. What does this acquisition mean for the local grocery landscape? Only time will tell, but one thing is for sure: the journey of Cold Storage is far from over.