Lucio Co’s Puregold expands market reach with DiviMart Supermarkets acquisition

Bilyonaryo Lucio Co’s Puregold Price Club Inc. is acquiring 14 DiviMart Supermarkets with the potential addition of 18 more locations through a sublease agreement.

This strategic move aims to solidify its presence in the retail sector and cater to a diverse customer base.

The acquisition encompasses leasehold improvements, furniture, fixtures, equipment, and merchandise inventory, which will contribute to Puregold’s operational capabilities and product offerings.

The 14 DiviMart stores are situated in various locations including Angat and Pandi in Bulacan, Morong in Bataan, Cabanatuan City in Nueva Ecija, Olongapo City, Taytay in Rizal, San Miguel in Pasig City, General Trias and Bacoor in Cavite, Cabuyao in Laguna, Tayuman in Manila, Aliaga in Nueva Ecija, San Juan in Taytay, and Pulilan in Bulacan.

Additionally, Puregold will assess the potential conversion of 18 more DiviMart locations into Puregold stores, providing an opportunity for further expansion.

The acquisition encompasses leasehold improvements, furniture, fixtures, equipment, and merchandise inventory, which will contribute to Puregold’s operational capabilities and product offerings.

Puregold said the consideration for the transaction remains below 10% of the corporation’s book value. The specific details of the transaction are currently being finalized, as the evaluation of store locations and inventory is still ongoing.

DiviMart, founded in 1989 by Harry Uy and Vivian Ong Juanitas, is renowned for its competitive prices and wide array of goods.

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