RETAIL giant Puregold Price Club, Inc. (Puregold) said Tuesday it acquired five B&W stores in Roxas City, Capiz as part of its expansion plans outside Metro Manila.
The supermarket operator said the acquisition will allow the company to have six stores on Panay Island and 11 stores in the Negros provinces, totaling 17 stores in the Visayas Region and 307 stores nationwide.
“Puregold expects the purchase to bolster its store presence in the Western Visayas Region,” the company said in a filing to the Philippine Stock Exchange.
In 2016, Puregold announced it would open 25 new stores annually for the next five years as it saw opportunities for areas and provinces outside Metro Manila which could also cater to big supermarkets.
“We’re still not well represented in the Visayas and Mindanao so if we can find an acquisition in those areas, that will hasten our presence,” Puregold Director Leonardo Dayao said in a previous interview.
Puregold’s consolidated net sales in the first half of 2017 increased by 10.8 percent to P56.6 billion driven by strong consumer demand from new and existing Puregold stores, S&R stores, and S&R New York Style Pizza stores.
Puregold group ended the period with 345 stores — 288 Puregold stores, 12 S&R membership shopping warehouses, 28 S&R New York Style QSRs, nine NE Bodega Supermarkets, and eight Budgetlane Supermarkets.
Puregold now works with over 1,500 suppliers and trade partners serving over 300,000 sari-sari stores and small businesses and over 1 million Puregold Perks members.