Puregold Price Club, Inc. agreed to acquire Company E Corporation from Emmanuel L. Enciso, Elizabeth M. Enciso, Eugene M. Enciso, Eunice M. Enciso, Elaine E. Fabie, Emmanuel M. Enciso, Jr. and Nida M. Mendoza for approximately PHP 330 million.
January 13, 2013 at 11:00 pm
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Puregold Price Club, Inc. (PSE:PGOLD) agreed to acquire Company E Corporation from Emmanuel L. Enciso, Elizabeth M. Enciso, Eugene M. Enciso, Eunice M. Enciso, Elaine E. Fabie, Emmanuel M. Enciso, Jr. and Nida M. Mendoza for approximately PHP 330 million on January 14, 2013. Puregold acquired 0.29 million shares of Company E Corporation paying PHP 1137.93 for each share. The deal was funded from the proceeds of Puregold's corporate notes.
For the financial year ending 2012, net sales of Company E Corporation were PHP 1.4 billion, gross profit was PHP 106.95 million, operating profit was PHP 8.23 million and net income was PHP 5.79 million. The transaction was approved by the Executive committee of Puregold.
Puregold Price Club, Inc. is engaged in the business of trading goods, such as consumer products (canned goods, housewares, toiletries, dry goods, food products, pharmaceutical and medical goods and others) on a wholesale and retail basis. The Company operates in the retailing business segment. Its stores are divided into four store models: Hypermarket, Supermarket, Extras and Minimart. It has over 525 retail stores, consisting of 452 Puregold Stores, 22 S&R Membership Shopping Warehouses and 51 S&R New York Style Pizza (QSRs). Hypermarkets offer food and non-food products to retail customers and small business owners (stores include mini-marts, cafeterias, restaurants, bakeries, pharmacies). The Supermarket is primarily located in residential areas and offers a higher proportion of food to non-food products. It maintains two online platforms called, Sally and Rappit and is affiliated with other online delivery platforms, such as Pick-a-roo, Metromart, Lazada, and Shopee.
Puregold Price Club, Inc. agreed to acquire Company E Corporation from Emmanuel L. Enciso, Elizabeth M. Enciso, Eugene M. Enciso, Eunice M. Enciso, Elaine E. Fabie, Emmanuel M. Enciso, Jr. and Nida M. Mendoza for approximately PHP 330 million.
PUREGOLD PRICE CLUB, INC. 
