Lucio Co's Puregold snaps up Eunilaine, Grocer-E stores
MANILA, Philippines - Businessman Lucio Co's Puregold Price Club Inc. is snapping up 15 Eunilaine and Grocer E supermarkets, as it seeks to expand its chain of supermarkets in the country.
In a disclosure on Monday, Puregold said it is buying 4 Eunilaine and 11 Grocer E supermarkets from Company E Corp.
The deal involves Puregold buying all outstanding shares of stock of Company E Corp.
Of the 15 stores, seven are located in Metro Manila, six in Rizal and two in Cavite.
As of end-2012, Puregold had 156 stores, 131 Puregold hypermarkets, supermarkets and extras; 19 Parco supermarkets and 6 S&R warehouse membership shopping clubs.
Puregold is planning to open 25 new stores and 1 S&R shopping center this year.
Last year, Puregold acquired 19 branches of Parco supermarkets from the Gant Group of Companies. All the Parco supermarkets will be re-branded into Puregold this year.