Fashion
Multinational private equity investor Carlyle Group is reportedly in talks with Caring Pharmacy to acquire a majority stake in the Malaysian drugstore chain.
According to DealStreetAsia, the deal is projected to reach more than US$300 million in size.
Earlier this year, Caring Pharmacy’s majority owner, 7-Eleven Malaysia Holdings was said to be in talks with several potential Japanese investors about a potential divestment of Caring Pharmacy. The chain was previously estimated to be worth around US$400 million.
Established in 1994 by five pharmacists who were course-mates in the School of Pharmacy at Universiti Sains Malaysia (USM), Caring offers pharmaceuticals, healthcare, and personal care products. As of 2019, the company had more than 120 stores nationwide.
7-Eleven Malaysia recently forayed into the Indonesian pharmacy business through a joint venture between Caring Pharmacy and PI Era Prima Indonesia.
