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.

 



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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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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