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.

Follow the link for more news on

MerryMart

Acquisitions

Also Read

FairPrice Group extends discount schemes through 2025

IKEA’s expansion to New Zealand on track for 2025 opening

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit