The 7-11 convenience store chain, which is ubiquitous in many Southeast Asian countries/regions, plans to further expand into the pharmacy business by acquiring a pharmacy company in Indonesia. According to a stock document issued on November 29, the group, through its Malaysian branch 7-11 Malaysia Holdings, cooperated with a listed company on the Jakarta Stock Exchange to establish a retail pharmacy chain in Indonesia. According to the document, 7-11 Caring Pharmacy Retail Management, which has a 75% stake in Malaysia, have established a joint venture with PT Era Prima Indonesia (EPI) to establish the business. Care needs 50.1%…
The 7-11 convenience store chain, which is ubiquitous in many Southeast Asian countries/regions, plans to further expand into the pharmacy business by acquiring a pharmacy company in Indonesia.
According to a stock document issued on November 29, the group established a retail pharmacy chain in Indonesia through its Malaysian branch 7-11 Malaysia Holding Company and a listed company on the Jakarta Stock Exchange.
The document stated that 75% of Caring Pharmacy Retail Management in Malaysia 7-11 has established a joint venture with PT Era Prima Indonesia (EPI) to establish the business. Caring will hold a 50.1% stake in the joint venture, which has a total capital of approximately 8.55 million ringgits (2.02 million US dollars).
The document stated: “This proposal represents an opportunity for our group to enter the Indonesian pharmaceutical industry.”
EPI is a subsidiary of the listed company PT Erajaya Swasembada, which is a distributor and retailer of mobile communication products.
Acquired local pharmaceutical retail chain stores in 2019
7-11 Malaysia Holdings acquired most of the shares of Caring Pharmacy Group in 2019 and began to gain a foothold in the pharmaceutical retail sector. Caring Pharmacy Group is a pharmaceutical and personal care product retail group with more than 120 stores in Malaysia.
The company said at the time that the move was to open up a growing retail market in which 7-11 did not exist.
