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Dairy Farm announced in early October 2018 that it has agreed to acquire the remaining 51% interest in Rose Pharmacy from BRG Realty Corporation.
Dairy Farm bought a 49% interest in Rose Pharmacy to broaden its health and beauty offering. The announcement is conditional on the approval of the Philippines Competition Commission and completion is expected to take place within the next six months. Upon completion of the transaction, Dairy Farm will hold 100% of Rose Pharmacy.
The company’s decision to invest further in this area does not come as a surprise. In its 2018 half year report, health and beauty is highlighted as one of the key growth areas. In the Philippines, its integration of Rose Pharmacy started to yield positive results, whilst the food business continues to face challenges. In March 2018, Robinsons announced to acquire Dairy Farm’s Rustan’s in the Philippines (see full report here).
Established in 1952 in Cebu city, Rose Pharmacy currently has over 250 branches in Philippines. To meet today’s shopper needs, Rose Pharmacy also offers online shopping, phone ordering and home delivery.
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