Puregold buys 14 DiviMarts

MANILA, Philippines — Lucio Co-owned Puregold Price Club Inc. is further expanding its supermarket footprint with the acquisition of DiviMart Supermarkets.

In a disclosure yesterday, Puregold said it would acquire 14 DiviMart  Supermarkets, including their leasehold improvements, furniture, fixtures, equipment, and merchandise inventory.

These 14 stores are spread across different parts of Luzon:  Angat, Bulacan; Mapulang Lupa, Pandi, Bulacan; Morong, Bataan; Cabanatuan City, Nueva Ecija; Olongapo City; San Isidro, Taytay, Rizal; San Miguel, Pasig City; Manggahan, General Trias, Cavite; Mambog, Bacoor, Cavite; Pulo, Cabuyao, Laguna; Tayuman, Manila; Aliaga, Nueva Ecija; San Juan, Taytay, Rizal and Pulilan, Bulacan.

Aside from the 14 newly acquired DiviMart branches, Puregold is evaluating an additional 18 Divimart locations  for possible conversion to Puregold stores.

Puregold said “the parties are still finalizing the definite consideration for the contemplated transaction because the evaluation of store locations, improvements, furniture, fixtures, equipment, and merchandise inventory is still ongoing.”

DiviMart is owned by husband and wife Harry and Vivian Juanitas Uy. The entrepreneurial couple owns several community malls and department stores in Metro Manila and nearby provinces.

The idea behind DiviMart was to bring merchandise sold at Divisoria prices closer to Filipinos.  Divimart  has been expanding its presence in different areas to cater to the needs of people in mostly far-flung communities.

The acquisition of DiviMart would further expand Puregold’s reach.

Puregold grew its consolidated net income by 12 percent  to P2.4 billion in the first quarter of 2023  on the back of higher  sales.

The retailer has been embarking on an aggressive multi-year push to expand its reach. Its consolidated net sales  rose by 15 percent year on year to P44.4 billion.

During the period, Puregold opened five new Puregold stores, one S&R Membership Shopping Warehouse and one S&R New York Style QSR.

As of end-March, the group had a total of 531 stores nationwide. These include 456 Puregold stores, 23 S&R Membership Shopping Warehouses, and 52 S&R New York Style QSRs.