7-Eleven ventures further into Southeast Asian pharma retail market
The 7-Eleven convenience store chain, ubiquitous in many Southeast Asian countries, has plans to expand further into the pharmacy business by taking over a pharmacy store company in Indonesia.
Through its Malaysian division 7-Eleven Malaysia Holdings, the group has teamed up with a listed company on the Jakarta Stock Exchange to set up a retail pharmacy chain in Indonesia, according to a stock filing released on November 29.
The filing said that 7-Eleven Malaysia’s 75%-owned Caring Pharmacy Retail Management has entered into a joint venture with PT Era Prima Indonesia (EPI) to establish the business. Caring would take a 50.1% stake in the joint venture which would have a total funding of about 8.55 million ($2.02 million) ringgit.
“The proposal represents an opportunity for our group to venture into the pharmaceutical industry in Indonesia,” the filing said.
EPI is a subsidiary of listed firm PT Erajaya Swasembada, a distributor and retailer of mobile communication products.
Takeover of local pharma retail chain in 2019
7-Eleven Malaysia Holdings started to get a foothold in the pharmaceutical retail sector in 2019 when it acquired the majority of Caring Pharmacy Group, a retail group for pharmaceutical and personal care products with more 120 stores throughout Malaysia.
In was a move to tap a growing retail market in which 7-Eleven had no presence, the company said back then.
The 7-Eleven convenience store chain, ubiquitous in many Southeast Asian countries, has plans to expand further into the pharmacy business by taking over a pharmacy store company in Indonesia. Through its Malaysian division 7-Eleven Malaysia Holdings, the group has teamed up with a listed company on the Jakarta Stock Exchange to set up a retail pharmacy chain in Indonesia, according to a stock filing released on November 29. The filing said that 7-Eleven Malaysia’s 75%-owned Caring Pharmacy Retail Management has entered into a joint venture with PT Era Prima Indonesia (EPI) to establish the business. Caring would take a 50.1%...
The 7-Eleven convenience store chain, ubiquitous in many Southeast Asian countries, has plans to expand further into the pharmacy business by taking over a pharmacy store company in Indonesia.
Through its Malaysian division 7-Eleven Malaysia Holdings, the group has teamed up with a listed company on the Jakarta Stock Exchange to set up a retail pharmacy chain in Indonesia, according to a stock filing released on November 29.
The filing said that 7-Eleven Malaysia’s 75%-owned Caring Pharmacy Retail Management has entered into a joint venture with PT Era Prima Indonesia (EPI) to establish the business. Caring would take a 50.1% stake in the joint venture which would have a total funding of about 8.55 million ($2.02 million) ringgit.
“The proposal represents an opportunity for our group to venture into the pharmaceutical industry in Indonesia,” the filing said.
EPI is a subsidiary of listed firm PT Erajaya Swasembada, a distributor and retailer of mobile communication products.
Takeover of local pharma retail chain in 2019
7-Eleven Malaysia Holdings started to get a foothold in the pharmaceutical retail sector in 2019 when it acquired the majority of Caring Pharmacy Group, a retail group for pharmaceutical and personal care products with more 120 stores throughout Malaysia.
In was a move to tap a growing retail market in which 7-Eleven had no presence, the company said back then.
