Puregold Price Club, Inc. acquired PriceSmart Philippines, Inc. for PHP 112.5 million.
December 01, 2022
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Puregold Price Club, Inc. (PSE:PGOLD) acquired PriceSmart Philippines, Inc. for PHP 112.5 million on November 30, 2022. The board of directors of Kareila Management Corp. owner and operator of S&R membership warehouse, a wholly-owned subsidiary of Puregold Price Club Inc., approved to purchase 100 percent capital stock of PSMT Philippines.
Puregold Price Club, Inc. (PSE:PGOLD) completed the acquisition of PriceSmart Philippines, Inc. on November 30, 2022.
Puregold Price Club, Inc. is engaged in the business of trading goods, such as consumer products (canned goods, housewares, toiletries, dry goods, food products, pharmaceutical and medical goods and others) on a wholesale and retail basis. The Company operates in the retailing business segment. Its stores are divided into four store models: Hypermarket, Supermarket, Extras and Minimart. It has over 525 retail stores, consisting of 452 Puregold Stores, 22 S&R Membership Shopping Warehouses and 51 S&R New York Style Pizza (QSRs). Hypermarkets offer food and non-food products to retail customers and small business owners (stores include mini-marts, cafeterias, restaurants, bakeries, pharmacies). The Supermarket is primarily located in residential areas and offers a higher proportion of food to non-food products. It maintains two online platforms called, Sally and Rappit and is affiliated with other online delivery platforms, such as Pick-a-roo, Metromart, Lazada, and Shopee.
PUREGOLD PRICE CLUB, INC. 
