Push Admin

Puregold says to acquire 14 Divimarts to expand reach

Article (news)

ABS-CBN News

<p>MANILA — Puregold Price Club said on Wednesday it entered a deal with DiviMart for the acquisition of 14 supermarkets nationwide to boost its expansion plans.</p><p>The acquisition deal includes its leasehold improvements, furniture, fixtures, equipment and merchandise inventory, the listed retailer said in a disclosure to the stock exchange.</p><p>&quot;The agreement will allow Puregold access to all Divimart supermarket locations which may instantly be converted to Puregold stores under a sublease transaction,&quot; the company said.</p><p>&quot;The acquisition will further expand the reach of Puregold to a broader market,&quot; it added.</p><p>Puregold said the 14 stores are located in Angat, Mapulang Lupa and Pulilan in Bulacan, Morong in Bataan, Cabanatuan City and Aliaga in Nueva Ecija, Olongapo City, San Isidro and San Juan in Taytay, Rizal, San Miguel in Pasig City, General Trias and Bacoor in Cavite and in Cabuyao, Laguna.</p><p>Eighteen other Divimart locations will be evaluated for possible conversion to Puregold stores, it said.</p><p>DiviMart is a supermarket chain founded in 1989. It has over 30 branches nationwide.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/16/22/puregold-net-income-at-p215-billion-in-q1">Puregold books P2.15 billion net income in first quarter, up 6.5 percent</a></li>	<li><a href="https://news.abs-cbn.com/business/04/27/22/puregold-posts-p881-b-net-income-in-2021">Puregold posts P8.81 billion net income in 2021</a></li>	<li><a href="https://news.abs-cbn.com/business/05/27/20/puregold-expands-online-grocery-footprint-for-new-normal">Puregold expands online grocery footprint for new normal</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/dxE_XUQRnog?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Puregold Price Club said on Wednesday it entered a deal with DiviMart for the acquisition of 14 supermarkets nationwide to boost its expansion plans.