Manila Bulletin

Robin­sons Re­tail buys VisMin's Rose Phar­macy

- By JAMES A. LOY­OLA

Robin­sons Re­tail Hold­ings, Inc. (RRHI) has signed a share pur­chase agree­ment to ac­quire 100 per­cent of Rose Phar­macy, Inc., one of the big­gest drug­store chains in Visayas and Min­danao, for R4.5 bil­lion.

In a dis­clo­sure to the Philip­pine Stock Ex­change, RRHI said its sub­sidiary South Star Drug Inc. has has made the pur­chase from Mul­grave Cor­po­ra­tion B.V (MCBV), a wholly-owned sub­sidiary of Dairy Farm In­ter­na­tional Hold­ings, Ltd.

Rose Phar­macy was es­tab­lished in 1952 as a fam­ily-run drug­store in Cebu City with the goal of pro­vid­ing qual­ity and af­ford­able medicines to com­mu­ni­ties.

Dairy Farm ac­quired a 49 per­cent share in the Cebu-based busi­ness in 2015, and in Novem­ber 2018, Dairy Farm in­creased its in­ter­est in Rose Phar­macy to 100 per­cent.

At present, Rose Phar­macy is one of the lead­ing drug­store chains in the Philip­pines with nearly R9 bil­lion in net sales in 2019 and over 300 stores strate­gi­cally lo­cated in Visayas and Min­danao.

“I am de­lighted that Rose Phar­macy will be part of our port­fo­lio as it takes us back to our home­town in Cebu, where my fa­ther and JG Sum­mit Hold­ings and RRHI Founder John Gokong­wei Jr. started as an en­tre­pre­neur. Mr. John also ad­mired Rose Phar­macy for its strong brand rep­u­ta­tion in Visayas and Min­danao,” said RRHI Pres­i­dent Robina Gokong­wei-Pe.

She added that, “The deal also fur­ther bol­sters our strate­gic part­ner­ship with Dairy Farm to strengthen our po­si­tion in Philip­pine multi-for­mat re­tail­ing. We rst worked with Dairy Farm for the ac­qui­si­tion of Rus­tan Su­per­centers, Inc. in 2018, which deep­ened our footprint in the premium su­per­mar­ket space.”

“Our ac­qui­si­tion of Rose Phar­macy yet again of­fers ripe op­por­tu­ni­ties for in­no­va­tion through strate­gic syn­er­gies,” Gokong­wei-Pe said.

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