Carlyle eyes investing in Malaysia’s Caring Pharmacy
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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.
Questions & Answers
Q.Who is the current majority owner of Caring Pharmacy?
Who is the current majority owner of Caring Pharmacy?
7-Eleven Malaysia Holdings is the current majority owner of Caring Pharmacy. They were reportedly in talks with Japanese investors earlier this year regarding a potential divestment.
Q.How much is the potential deal between Carlyle Group and Caring Pharmacy expected to be worth?
How much is the potential deal between Carlyle Group and Caring Pharmacy expected to be worth?
The potential deal, if it proceeds, is projected to reach more than US$300 million in size. Caring Pharmacy was previously estimated to be worth around US$400 million.
Q.When was Caring Pharmacy established and how many stores did it have as of 2019?
When was Caring Pharmacy established and how many stores did it have as of 2019?
Caring Pharmacy was established in 1994 by five pharmacists. As of 2019, the company operated more than 120 stores across Malaysia, offering pharmaceuticals and healthcare products.
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