Puregold now owns wholesale grocery Kareila

Wholesale grocery Kareila Management Corp. is now a subsidiary of Puregold Price Club Inc. after Kareila issued 1,703,124 stock certificates under Puregold’s name, Puregold said in a disclosure Wednesday to the Philippine Stock Exchange.   Only one share of Kareila owner Mr. Anthony Sy has yet to be transferred to Puregold as they are still waiting for the Bureau of Internal Revenue to issue a tax clearance.   Last May 28, Puregold agreed to issue 766,406,250 capital stock from its unissued portion to Kareila in exchange for Kareila’s 1,703,125 outsanding shares.   Kareila is owned by Lucio and Susan Co, Ferdinant Vincent Co, Pamela Justine Co, and Anthony Sy, collectively the Co family.   Husband and wife Lucio and Susan Co also own Puregold.   This year, Puregold added 19 Parco supermarkets to its roster of 106 stores, opened three new branches, and slated 19 more outlets – apart from six more S&R warehouse clubs. It is also set to build a new store in Vista Land's The Lakefront project in Muntinlupa. — Marc Cayabyab/VS