7-Eleven Malaysia, majority-owned subsidiary of Berjaya Group, will buy another 25.35% of Caring Pharmacy, taking its total stake to 38.57%.
Improving the group’s performance
Berjaya Group’s founder, Tan Sri Vincent Tan, is a major shareholder of 7-Eleven Malaysia and has shares in Caring Pharmacy Group. 7-Eleven wants to increase its stake in Caring Pharmacy to over 50% but will maintain its independent listing. The purchase will enable 7-Eleven to expand the group’s network and diversity its products and shopper base.
About Caring Pharmacy
Caring Pharmacy opened its first outlet in Taman Muda in 1994. It has since grown to 121 stores with a successful online platform. 7-Eleven will have access to a fully operational pharmacy business and be able to build on Caring’s online platform through this deal.
Retail Analysis Asia