Puregold acquires 14 DiviMart supermarkets

Puregold Price Club Inc. on Wednesday said it has entered into an agreement to acquire 14 supermarkets of local chain DiviMart, which may then be instantly converted to Puregold stores under a sublease transaction.

In a regulatory filing, Puregold said the purchase agreement covers stores in Angat, Bulacan; Mapulang Lupa, Pandi, Bulacan; Morong, Bataan; Cabanatuan City, Nueva Ecija; and Olongapo City.

It also includes San Isidro, Taytay, Rizal; San Miguel, Pasig; Manggahan, General Trias, Cavite; Mambog, Bacoor, Cavite; Pulo, Cabuyao, Laguna; Tayuman, Manila; Aliaga, Nueva Ecija; San Juan, Taytay, Rizal; and Pulilan, Bulacan.

The agreement covers the leasehold, improvements, furniture, fixtures, equipment, and merchandise inventory, and will allow Puregold access to all locations.

An additional 18 locations of DiviMart, which offers a variety of products, including fresh produce, household goods, and personal care items, will also be evaluated for possible conversion to Puregold stores.

Puregold’s portfolio includes Puregold Junior, Puregold Extra, and S&R Membership Shopping.

It ended 2021 with a total of 263 hypermarkets, 100 supermarkets, 28 extras, 39 minimarts, 22 S&R warehouse clubs, 47 Quick Service Restaurants, three Merkado branches, and 30 San Roque supermarkets.

Shares in the company closed Wednesday up by P0.80, or 2.84%, at P29.00.—VAL, GMA Integrated News