Hong Kong corporate retailer Dairy Farm International Holdings has take a strategic stake in one of the Philippines’ biggest pharmacy chains.

Family-controlled Rose Pharmacy Inc was founded in Cebu in 1992 and now has 238 stores across the Philippines.

In a brief statement, Dairy Farm said it intends to support the future growth of what is now a joint venture by broadening its consumer offering as part of the Group’s wider Health & Beauty portfolio.

Dairy Farm owns the Guardian and Mannings pharmacy chains in Asia.

While Rose Pharmacy is a strong chain with a large customer following, it will undoubtedly benefit from Dairy Farm’s expertise in branding, marketing and merchandising as well as its vast supplier network throughout Asia.

It also marks a strategic step into the Philippines retail marketplace, a market where Dairy Farm has had limited involvement to date.