MERRYMART CONSUMER CORP. MerryMart Consumer Corp. (PSE:MM) entered into an agreement to acquire 75.08% stake in Carlos Drugs-Lucena Inc. on July 12, 2021. MerryMart to acquire a minimum post-investment stake of 67% of Carlos SuperDrug.
As on November 8,2021, MerryMart Consumer has executed the definitive agreements finalizing the acquisition of primary and secondary shares totaling to 0.338 million common shares for 75.08% equity stake in Carlos Drugs-Lucena for approximately PHP 340 million. The cash purchase consideration was PHP 1,005.80 per common share for 0.338 million common shares. Carlos SuperDrug has 27 operating branches to date and is EBITDA and Net Income positive.
The current Management team of Carlos SuperDrug will continue to run the operations of the company in tandem with the MerryMart team.
