Puregold wants to buy S&R Membership Shopping

Supermarket chain operator Puregold Price Club Inc. is eyeing to buy or merge with S&R Membership Shopping.   In a meeting on Feb 17, Puregold’s board of directors "approved the request of the management... to commence study and discussion with the management of S&R Membership Shopping for the possible merger/acquisition of S&R Membership Shopping by Puregold Price Club Inc. at terms and conditions satisfactory to both parties," Puregold said in a statement to the Philippine Stock Exchange Monday.   No other details were disclosed. S&R is a whosale and retail supermarket chain which caters mostly to registered members.    In January, Puregold opened its 101st store and its first in Benguet province.  It was one of 25 stores the company plans to open this year.   As of end-2011, Puregold had 100 stores after opening 38 new outlets last year including 61 hypermarkets, 28 supermarkets (Puregold Jr.), and 11 discounter store (Puregold Extra).   Puregold plans to double the number of its stores by 2015 and seeks to expand in the Visayas and Mindanao.   Puregold listed on the PSE last October. — CMA/VS, GMA News