Puregold Price Club Inc., the grocery chain owned by billionaire Lucio Co, is acquiring Puremart stores for P567.5 million. Puremart, which operates
Puregold Price Club Inc., the grocery chain owned by billionaire Lucio Co, is acquiring Puremart stores for P567.5 million.
Puregold also acquired in 2022 the Co-family owned PSMT Philippines Inc, which is engaged in wholesale distribution of grocery items for P112.5 million.The company in December 2023 renewed its P5-billion buyback program until end-2024 to boost shareholder value. Sales rose 9.1 percent to P151.97 billion in the nine-month period from P139.3 billion a year ago. Same-store sales rose 3.5 percent for Puregold stores and 4.1 percent for S&R Warehouse clubs, driven by higher traffic and basket size.
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