Puregold Price Club, Inc. entered into a agreement to acquire 100% of the shares of Melilla Management Corporation.
May 10, 2022
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Puregold Price Club, Inc. (PSE:PGOLD) entered into a agreement to acquire 100% of the shares of Melilla Management Corporation on May 6, 2022. Melilla Management Corporation is a holder of seven leasehold rights in several locations in the Province of Cebu. The consideration for the acquisition of Melilla Management is below 10% of the Company's total book value.
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.