SINGAPORE: Cold Storage has been a household name in Singapore for 120 years. Now, the supermarket chain is set to embark on a new chapter.
On Monday (Mar 24), Malaysian retail group Macrovalue announced that it will acquire Cold Storage and Giant in a deal valued at S$125 million (US$93 million).
CNA takes a look back at the history of Cold Storage, tracing its journey from a small retail depot to one of the country’s most recognisable supermarket brands.
1903: Establishment
Singapore’s oldest supermarket operator was founded as the Singapore Cold Storage Company on Jun 8, 1903, according to an article published by the National Library Board.
As its name suggests, it started out as a business that specialised in storing and distributing frozen foods and perishables, and was a pioneer in this field in Malaya.
1905: Launches first retail depot on Orchard Road
Cold Storage opened its first retail space on Orchard Road on Mar 24, 1905, offering frozen meats, poultry and dairy products imported from Queensland, Australia.
Its initial shipment of goods was stored in a 400-tonne-capacity refrigerated facility located at Keppel Harbour.
1923: Manufactures Paradise ice cream
Two decades on from its founding, Cold Storage became the first company to produce ice cream in Singapore.
According to an article published by the National University of Singapore, their ice cream brand was initially named Paradise, but it was relaunched in 1937 under a name that is still well known in Singapore today – Magnolia.
Late 1930s: Establishes world’s first tropical dairy farm
According to the National Parks Board, Cold Storage established the world’s first tropical dairy farm in Singapore in the late 1930s.
It was set up on a 24-hectare plot of land in a jungle by the company’s then managing director Fred Heron, who wanted to improve the quality of milk available in Singapore.
The farm initially had 24 Friesian cows imported from the Netherlands and Australia.
The farm closed in the 1970s, but it lives on in the names of Dairy Farm Road and the Dairy Farm Nature Park.
1959: Introduces Singapore’s first self-service supermarket
Cold Storage remained in operation through World War II, and in a first for Singapore, its Orchard Road outlet became a self-service supermarket in 1959.
In this era, Cold Storage was also famous for its Western-style Magnolia milk bars and snack bars that specialised in ice cream, cakes and milkshakes.
The Magnolia Snack Bar at the Capitol Building was a particularly notable outlet. Reporting on its closure in 1988, The Straits Times said that it had “been a favourite haunt of students, courting couples and tourists alike” for more than 40 years.
1987: Sponsors iconic National Day song
According to a video published by Cold Storage on social media to mark its 116th birthday in 2019, it sponsored the National Day song We Are Singapore back in 1987.
The National Library Board described the song as “a gift to the nation from the Cold Storage Group of companies”.
