Dairy Farm International Holdings Limited announced that it has agreed to deepen its strategic partnership with Philippines listed multi-format retail group Robinsons Retail Holdings Inc. and to build a leading pharmacy business in the Philippines.
Dairy Farm will combine its interest in wholly-owned Rose Pharmacy Inc. with RRHI subsidiary Southstar Drug Inc. The combination of Rose Pharmacy and Southstar Drug creates a leading pharmacy chain in the Philippines.
Rose Pharmacy’s highly-regarded brand and presence in the Visayas and Mindanao regions complement Southstar strong drug store presence in Luzon and Metro Manila.
The combined business is geographically complementary, with greater market share and competitiveness, creating synergies whilst leveraging scale. This strengthened network will enable the enlarged business to compete more effectively and participate strongly in the future growth of the sector.
Commenting on the announcement, Ian McLeod, Group Chief Executive of Dairy Farm Group said, “Dairy Farm and Robinsons have been in partnership since 2018, and we share the same values and approach to delivering great value, services, and products to our customers. By bringing these businesses together we have created an enhanced and strengthened pharmacy network, which will provide growth opportunities to team members, and enable greater competitiveness, service and value to customers across the Philippines.”