Puregold to consolidate newly-purchased supermarkets
Businessman Lucio Co is folding 17 newly-acquired grocery stores into Puregold Price Club. to boost sales and ensure better inventory management.
The Securities and Exchange Commission has approve the merger of Puregold with Daily Commodities, Inc. First Lane Super Traders Co. Inc. and Goldtempo Company Inc.
In the stock exchange filing, Puregold said 17 stores mostly located in Cabanatuan City and Provinces of Rizal, Bulacan and Aurora would soon carry the brand name and be converted to Puregold stores.
“The company expects better inventory management, efficient cash management and simplified reporting to government agencies as a result of this merger,” Puregold said.
As of the end of September, Puregold had a total of 352 stores nationwide. These include 291 Puregold stores, 13 S&R membership shopping warehouse, and 31 S&R New York Style QSR, 9 NE Bodega Supermarkets and 8 Budgetlane Supermarkets.