The Gokongwei Group’s retail arm, Robinsons Retail Holdings, Inc., is expanding its footprint in Visayas and Mindanao through its subsidiary, South Star Drug, Inc., as it completed the acquisition of Rose Pharmacy, Inc.
On October 16, 2020, RRHI reached an agreement to acquire 100% of Rose Pharmacy from its owners, Mulgrave Corporation B.V, a wholly owned subsidiary of Dairy Farm International Holdings, Ltd., through a share purchase deal.
Established in 1952 as a family-run drugstore in Cebu City, Rose Pharmacy has risen to become one of the country’s top pharmaceutical retailers. In 2019, it generated sales of nearly Php9 billion from its 300-plus branches strategically located throughout the Philippines. It has a particularly strong presence in the central and southern regions of the country. Dairy Farm acquired a 49% share in the Cebu-based business in 2015, and increased its interest in Rose Pharmacy to 100% in November 2018.
Representatives of Robinsons Retail Holdings, Inc. and Dairy Farm International Holdings, Ltd. conduct a virtual signing ceremony for the acquisition of Rose Pharmacy, Inc.
“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 continued.
“Rose Pharmacy is a very strategic addition to our drugstore portfolio with its highly regarded brand in VisMin and complementary network to South Star 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 the Philippines when they need it most,” said David Goh, Managing Director of South Star Drug, Inc.
For more information on Robinsons Retail Holdings, visit robinsonsretailholdings.com.ph