Robinsons Retail Holdings said Friday it expanded its drugstore business to meet growing demand, acquiring Rose Pharmacy to gain stronger foothold in the Visayas-Mindanao area.
The company now operates three drugstore brands, including South Star Drug and TGP The Generics Pharmacy. It also runs, among others, Robinsons Department Store, Supermarket and Appliances, Handyman, TrueValue, Mini Stop, Toys R Us and Savers Appliances.
Rose Pharmacy was acquired via share purchase agreement between South Star and Mulgrave Corp., a subsidiary of Dairy Farm International Holdings, Rose Pharmacy's former parent.
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"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 Robina Gokongwei-Pe, President and CEO of Robinsons Retail Holdings, Inc.
“The deal also further bolsters our strategic partnership with Dairy Farm to strengthen our position in Philippine multi-format retailing. We first 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,” she said.
“Rose Pharmacy is a very strategic addition to our drugstore portfolio with its highly-regarded brand in VisMin and complementary network to Southstar Drug’s strong presence in Luzon and Metro Manila. Together, we can leverage our scale and synergies to drive wider product assortment, better customer service and offer greater value to our customers across Philippines when they need it most,” said David Goh, Managing Director of South Star Drug, Inc.
Rose Pharmacy is one of the leading drugstore chains in the Philippines with nearly P9 billion in net sales in 2019 and over 300 stores in the Visayas and Mindanao.
The entire Philippines has been under virus quarantine since March. Cases have begun to go down and the economy is slowly reopening. Drugstores and supermarkets are allowed to operate under all forms of quarantine and errands for medicine and groceries are permitted.