Warren de Guzman, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2016/nation2/05/17/051716_rob.jpg"/><figcaption><div class="embed-desc">Lance Gokongwei, Robinsons Retail Chairman and CEO; James L. Go, JG Summit Holdings Chairman; and Robina Gokongwei-Pe, Robinsons Retail President; TGP Founder and Chairman Benjamin Liuson; Judy Liuson, wife of Benjamin Liuson; and Raymund Sanchez, TGP President. At the back, from left to right are Manuel Dy and Dahlia Dy of South Star Drug and Jennibeth Liuson and Joyce Liuson Tan of TGP. Photo from Robinsons Retail.</div></figcaption></figure></div>MANILA (UPDATE) - Robinsons Retail said Tuesday it acquired a 51-percent stake in The Generics Pharmacy, expanding its drugstore network to 2,200.Robinsons Retail said it would pair The Generics Pharmacy, which controls over 1,800 drugstores across the Philippines, with its existing South Star Drug network.The Liuson family, through The Generics Pharmacy founder Benjamin Liuson, said they hope the partnership would bring the business a &quot;step higher.&quot;The cost of the acquisition was not disclosed.Robinsons Retail has grown Bicol-based South Star Drug to 350 stores from just 216 when it was first acquired in 2014.The combined network of Robinsons Retail and The Generics Pharmacy is double its competitor Mercury Drug, which has about 1,100 stores.Robinsons and The Generics Pharmacy will also compete with the 632-store <a href="http://news.abs-cbn.com/business/07/16/15/ayala-buys-50-pct-generika">Generika</a>, which is 50-percent owned by Ayala Corp.Robinsons Retail shares were down 2.99 percent to P78.00 on Tuesday.

MANILA (UPDATE) - Robinsons Retail said Tuesday it acquired a 51-percent stake in The Generics Pharmacy, expanding its drugstore network to 2,200.

Robinsons Retail acquires 51 pct of The Generics Pharmacy

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Robinsons Retail acquires 51 pct of The Generics Pharmacy

Warren de Guzman,

ABS-CBN News

Published May 17, 2016 02:28 PM PHT

|

Updated May 23, 2016 04:36 PM PHT

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Robinsons Retail

The Generics Pharmacy

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