Multinational private equity investor Carlyle Group is reported to be in talks with Caring Pharmacy to acquire a majority stake in the Malaysian drugstore chain.

According to DealStreetAsia, the deal is projected to reach more than US$300 million in size. 

Earlier this year, Caring Pharmacy’s majority owner, 7-Eleven Malaysia Holdings was said to be in talks with several potential Japanese investors about a potential divestment of Caring Pharmacy. The chain was previously estimated to be worth around US$400 million. 

Established in 1994 by five pharmacists, who were course-mates in the School of Pharmacy at Universiti Sains Malaysia (USM), Caring offers pharmaceuticals, healthcare and personal care products. As of 2019, the company had more than 120 stores across the country. 

7-Eleven Malaysia recently forayed into the Indonesian pharmacy business through a joint venture between Caring Pharmacy and PI Era Prima Indonesia.