Dairy Farm to have more shares in pharmacy

Feb 14, 2018Updated Jun 4, 20251 min read

Hong Kong retail giant Dairy Farm has received official approval to increase its stake in Philippine drugstore chain Rose Pharmacy.

It is doing this through its European investment vehicle Mulgrave Corporation, which has received the nod from the Philippine Board of Investments (BOI). It seeks to raise its shareholding in Cebu-based Rose Pharmacy from 49 to 51 per cent. Financial details of the deal have not been disclosed.

Rose Pharmacy has 252 pharmacies nationwide.

Trade undersecretary and BOI managing head Ceferino Rodolfo says that aside from increasing its stake in Rose Pharmacy, Mulgrave also plans acquisitions and to expand retail outlets.

Based in Amsterdam, Mulgrave Corporation runs supermarkets through a subsidiary. In turn, Mulgrave is a subsidiary of Dairy Farm International Holdings.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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