Puregold
TypePublic
PSE: PGOLD
IndustryRetailing
FoundedSeptember 8, 1998 (1998-09-08)
FounderLucio L. Co
HeadquartersErmita, Manila, Philippines
Number of locations
452 (2022)[1]
Area served
Philippines
Key people
Susan P. Co (Chairman)
Ferdinand Vincent P. Co (President)
Lucio L. Co (Director)
Revenue₱165.32 billion (2020)
₱7.34 billion (2020)
OwnerCosco Capital Inc. (48.58%)
Public (34.50%)
Others (16.92%)
Number of employees
12,170 (2023)[2]
Websitepuregold.com.ph Edit this at Wikidata

Puregold Price Club, Inc. or simply Puregold (stylized in all caps) is a chain of supermarkets in the Philippines trading goods such as consumer products (canned goods, housewares, toiletries, dry goods, and food products, among others) on a wholesale and retail basis. It currently has approximately more than 400 operating stores and over 20 food service stalls.[3]

History

During the 1997 Asian financial crisis, Chinese-Filipino businessman Lucio Co, who owned the Alcorn Gold Resources Corporation (later renamed Cosco Capital, Inc.), initially focused on oil and mineral exploration and development. However, due to the increasing price of commodities, the company ventured out into the retail industry, which at the time, was dominated by retail giant SM.[4]

On September 8, 1998, Puregold Price Club was founded by Lucio Co and his wife Susan Co. Its first branch opened on December 12, 1998 at Liberty Center (now Mandala Park)[5] along Shaw Boulevard in Mandaluyong.[4]

In October 2011,[6] Puregold Price Club went public and was inaugurated as a listing on the Philippine Stock Exchange.

In 2012, Puregold acquired Kareila Management Corp., which owns S&R Membership Shopping (named after Price Club founders Sol and Robert Price) and Parco. Over 19 operating outlets were purchased and converted to Puregold.[7][8] The shareholders of the retail chain Puregold have approved the merger of the other two operating units into the parent company, consolidating Puregold's supermarket businesses under the publicly listed supermarket operator.[9]

In February 2013, global investment firm Capital Group Companies (CGC) bought 5.4% total outstanding stock of Puregold.

In May 2014, Puregold formed a joint venture with Japanese convenience store chain Lawson under the name PG Lawson Inc. Puregold owns 70% of the venture and they opened their first branch in San Andres, Manila on March 30, 2015.[10]

In 2023, Puregold acquired 14 DiviMart supermarket branches, all in Luzon.[1][11]

References

  1. 1 2 Merkado Barkada (June 22, 2023). "Puregold to acquire 14 DiviMart Supermarkets". Philippine Star. Retrieved June 22, 2023.
  2. ↑ "Puregold Price Club Inc, PGOLD:PHS profile - FT.com". markets.ft.com. Retrieved October 12, 2023.
  3. ↑ "PGOLD.PS - Puregold Price Club Inc Profile | Reuters". www.reuters.comundefined. Retrieved October 6, 2020.
  4. 1 2 "Stories of Filipino Success: Lucio and Susan Co". Philippine Primer. April 27, 2017. Retrieved January 3, 2024.
  5. ↑ "Our Legacy | Mandala Park, Litton & Co., Inc". Litton & Co., Inc. Retrieved January 3, 2024.
  6. ↑ "Puregold IPO cited as 2011 Best Mid-Cap IPO by FinanceAsia". Philstar.com. February 13, 2012. Retrieved February 28, 2019.
  7. ↑ "Press release" (PDF). pse.com.ph. Retrieved June 23, 2019.
  8. ↑ Lucas, Daxim L. (May 28, 2012). "Puregold buys Parco supermarket chain". Inquirer.net. Retrieved November 30, 2012.
  9. ↑ "Puregold consolidates supermarket businesses". BusinessWorld. November 23, 2012. Retrieved November 30, 2012.
  10. ↑ "We have set to open the first LAWSON Store in the Philippines on March 30th". Lawson.jp. March 26, 2015. Retrieved June 23, 2019.
  11. ↑ Rivas, Ralf (June 22, 2023). "Puregold acquires 14 DiviMart supermarkets". Rappler. Retrieved June 22, 2023.
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