Robina Gokongwei-Pe remembers how her father, the late industrialist John Gokongwei Jr., had always admired Rose Pharmacy, a family-run drugstore chain in Cebu, where he had started as an entrepreneur at the age of 13.
Robinsons Retail Holdings Inc. (RRHI), of which Gokongwei-Pe is president and CEO, said on Oct. 16 that it had acquired Rose Pharmacy to strengthen its drugstore business in the Visayas-Mindanao area.
Gokongwei-Pe said she visited her father’s grave to share the news.
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“Dad, here are roses for you as I know you've always admired Rose, a homegrown drugstore brand from your hometown of Cebu,” she said.
Rose Pharmacy Inc has over 300 stores in Visayas and Mindanao. It had nearly P9 billion in net sales in 2019.
RRHI now owns three drugstore brands: Rose Pharmacy, South Star Drug and TGP The Generics Pharmacy. It also runs, among others, Robinsons Department Store, Supermarket and Appliances, Handyman, TrueValue, Mini Stop, Toys R Us and Savers Appliances.
RRHI acquired Rose Pharmacy via a share purchase agreement between South Star and Mulgrave Corp., a subsidiary of Dairy Farm International Holdings, Rose Pharmacy's former parent.
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Robinsons Retail Holdings Inc. is a unit of the Gokongwei group, as is Summit Media Inc, which publishes Esquire Philippines.