Sources close to Edge Davao revealed that the national supermarket chain, Puregold Price Club, has allegedly acquired the Yap-owned Davao Central Warehouse Club as its initial step to enter the Davao market.
The source, who requested anonymity for not being in the position to speak on behalf of the company, said that there are several warehouses that the company is also acquiring. The amount exchanged was not revealed by the source.
However, the publicly listed company has not made any reports on the website of the Philippines Stock Exchange regarding its acquisition of the local warehouse club.
Meanwhile, construction is underway for the S&R Membership Shopping brand of Puregold along MacArthur Highway, right across NCCC Mall. [CPM]