Puregold gets SEC approval to merge with 3 grocery chains

ABS-CBN News

Posted at Nov 27 2017 04:17 PM

MANILA - Puregold said Monday it received regulatory approval to merge with the 3 grocery chains it recently acquired.

The Securities and Exchange Commission allowed Puregold to to merge with Daily Commodities, First Lane Super Traders and Goldtempo Company, which together own 17 stores in the provinces of Rizal, Bulacan, Aurora and Cabanatuan City, the company told the stock exchange.

"The company intends to consolidate all stores catering to the same market group into one company," Puregold said.

Puregold has 352 stores nationwide as of end September.

Shares of the company rose 2.39 percent to P49.20 on Monday.