Philippines’ MerryMart buys 67% stake in Carlos SuperDrug

The local pharmacy chain has 27 branches to date.

Philippines-based grocer MerryMart has agreed to acquire a minimum post-investment stake of 67% in local pharmacy chain Carlos SuperDrug for an undisclosed amount, the company announced in a bourse filing.

Carlos SuperDrug is considered as the biggest pharmacy chain in Quezon Province. Founded in 1946, the pharmacy chain has 27 branches to date. The pharmacy’s current management team will continue to run the company’s operations in tandem with the MerryMart team.

MerryMart's formats are MerryMart Store, MerryMart Market, MerryMart Grocery, MerryMart Wholesale and Dark Groceries. It has recently formed MM Consumer Technologies as subsidiary with MBOX Smart Lockers as the first in its consumer technology portfolio.

The grocer has set its 2030 vision with the goal of a total of 1,200 branches nationwide and aims to generate $2.38b (PHP120b) in systemwide recurring consumer sales revenue.