Manila Bulletin

Robinsons Retail buys VisMin's Rose Pharmacy


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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