Phoenix Petroleum Philippines Inc., a listed company led by Davao City-based businessman Dennis Uy, is acquiring 100 percent of Philippine FamilyMart, as Uy diversifies into the highly-competitive convenience store industry. PFM is engaged in operating convenience stores under the trademark “FamilyMart” in the Philippines. Ayala Land and SSI Group teamed up with two Japanese firms in 2012 to bring FamilyMart to the Philippines. Filipinos have really embraced the convenience store format and FamilyMart is well positioned as one of the top CVS brands in the country,” SSI president and chief executive Anthony Huang said. Jose Emmanuel H. Jalandoni, senior vice resident of Ayala Land said: “We are delighted that Phoenix Petroleum shares our vision for the continued growth of the FamilyMart brand in the Philippines.

Source: The Standard October 30, 2017 12:56 UTC