InRetail Peru to acquire Peruvian pharma retailer Quicorp
Retail acquisition news : InRetail Peru, a Peruvian multi format retailer has agreed to acquire Quicorp, a Peru-based pharmaceutical distributor and retailer in the Andean region for $583 million.
InRetail Peru acquisition of Quicorp is expected to bolster the operations of the multi format retailer in the pharma sector further, improve its international expansion strategy, and also to continue to bring healthcare access in Peru.
The multi format retailer is engaged in operating supermarkets, pharmacies and shopping malls across Peru. InRetail Peru owns 231 Plazavea, Vivanda and Mass supermarkets and hard-discount stores along with 1,155 Inkafarma pharmacies and 19 Real plaza shopping malls.
Business deal done. Photo courtesy of adamr at FreeDigitalPhotos.net.
On the other hand, Quicorp, which was founded in 1939, provides pharmaceuticals and personal care products. It has operations across Peru, Ecuador, Bolivia and Colombia.
With headquarters in Lima, Quicorp operates more than 1,000 pharmacies in Peru and Bolivia. The Peruvian pharma retailer has a dozen distribution centers in three different countries with a storage space of more than 90,000m2.
Quicorp has a workforce of more than 11,000 employees and over Sol 4.0 billion ($1.24 billion in annual sales.
Commenting on InRetail Peru acquisition of Quicorp, Juan Carlos Vallejo – the CEO of InRetail, said: “this operation reaffirms our commitment to continue providing access to health and wellness to the Peruvian population, and allows us to expand our footprint to other attractive markets in the Andean region.”
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