Robinsons Retail acquires Rose Pharmacy
Rose Pharmacy gained $144.3m in net sales for the first nine months of 2023.
Robinsons Retail Holdings, Inc. (RRHI), through its subsidiary South Star Drug Inc., has completed the 100% purchase of Rose Pharmacy Inc. from Mulgrave Corporation B.V (MCBV), a subsidiary of Hong Kong-based retailer Dairy Farm International Holdings, Ltd.
The acquisition went through after a review by the Philippine Competition Commission that commenced on 7 November 2022 and took effect on 6 November 2023.
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Under the purchase, RRHI will gain control over the operations of Rose Pharmacy, expanding its drugstore portfolio alongside South Star Drug and The Generics Pharmacy and driving its product scale over the Philippines.
Established in 1952, Rose Pharmacy is a family-run drugstore chain in Cebu City. It is one of the leading drugstore chains in the Philippines with $144.3m (PHP8.0b) in net sales for the first nine months of 2023, with a 15.1% year-on-year, operating 394 stores in Visayas and Mindanao.