By: Manila Times
Listed Robinsons Retail Holdings Inc. (RRHI) reported that it acquired local drugstore chain Rose Pharmacy Inc. through its subsidiary South Star Drug Inc.
In a disclosure, the Gokongwei-led retailer said South Star Drug and Dairy Farm International Holdings Inc. subsidiary Mulgrave Corp. B.V. (MCBV) signed a share purchase agreement to buy Rose Pharmacy.
Dairy Farm acquired a 49-percent share in Rose Pharmacy in 2015 before increasing it to 100 percent in November 2018.
“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 [the] Visayas and Mindanao,” Robinsons Retail President and Chief Executive Officer Robina Gokongwei-Pe said in the disclosure.
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