Robinsons expands health portfolio, buys Rose Pharmacy

MANILA, Philippines — The Gokongwei Group has strengthened its footprint in the pharmaceutical space.

Robinsons Retail Holdings Inc. (RRHI), the group’s retail arm, has acquired Rose Pharmacy.

Robina Gokongwei-Pe, RRHI president and CEO said her father, the late taipan John Gokongwei, admired the strong brand of Rose Pharmacy.

“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,” Gokongwei-Pe said.

RRHI, through its subsidiary South Star Drug Inc. and Mulgrave Corp. B.V (MCBV), a wholly-owned subsidiary of Dairy Farm International Holdings Ltd., has signed a share purchase agreement to acquire 100 percent of Rose Pharmacy Inc.

Rose Pharmacy was established in Cebu in 1952 to provide quality and affordable medicines to communities.

Initially, Dairy Farm acquired a 49 percent share in the Cebu-based business in 2015 and in November 2018, Dairy Farm increased its interest in Rose Pharmacy to 100 percent.

Rose Pharmacy is one of the leading drugstore chains in the Philippines with nearly P9 billion in net sales in 2019 and over 300 stores strategically located in Visayas and Mindanao.

“The deal also further bolsters our strategic partnership with Dairy Farm to strengthen our position in Philippine multi-format retailing,” Gokongwei-Pe said.

RRHI worked with Dairy Farm in 2018 for the acquisition of Rustan Supercenters Inc., which deepened the Gokongwei Group’s footprint in the premium supermarket space.

“Our acquisition of Rose Pharmacy yet again offers ripe opportunities for innovation through strategic synergies,” Gokongwei-Pe said.

South Star Drug Inc. managing director David Goh said Rose Pharmacy is a very strategic addition to the company’s drugstore portfolio with its highly-regarded brand in VisMin.

“Together, we can leverage our scale and synergies to drive wider product assortment, better customer service and offer greater value to our customers across Philippines when they need it most,” Goh said.