Ayala, Puregold to open first supermarket 'Merkado'

07/27/2015 12:24 PM

MANILA - Ayala Land and Puregold Price Club Inc. is set to open its first joint venture supermarket in Quezon City at the end of the month.

The supermarket, named Merkado Supermarket, caters to the middle income segment, and offers a wide range of fresh and grocery items, local and imported goods, and product lines from its own bakery and rotisserie.

Its first store will open at UP Town Center on July 31, 2015.

Merkado Supermarket is the product of AyaGold Retailers, Inc., a 50-50 joint venture between Ayala's ALI Capital Corp. and Puregold's Entenso Equities Inc.

"Merkado Supermarket plays a significant role in ALI's business portfolio. Not only does this strengthen and expand our retailing business which started with our convenience and department stores joint ventures, but is also a testament to our commitment in delivering a holistic environment and experience to the mixed-use communities that we are developing," Ayala Land vice president Cora Dizon said in a statement.

Merkado Supermarket extends the existing partnership between Ayala Land and Puregold with the latter serving as anchor supermarket at Ayala Malls Harbor Point in Subic and Fairview Terraces in Quezon City.

"With the mall-based Merkado Supermarket, this will enable us to tap a broader market. In the case of UP Town Center, this could range from students to young professionals and young families," said AyaGold president Anthony Sy.

Puregold has more than 200 stores nationwide. For 2015, the firm allotted P5.5 billion for the continued expansion of its businesses.

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