7 months ago
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Fontana Limited announced on Thursday that it acquired the Monarch chain of pharmacies from Gerk Limited for an undisclosed sum.
The acquisition is expected to be finalised during the third-quarter of 2025.
“We are extremely excited about the addition of Monarch Pharmacies to the Fontana family,” said Anne Chang, CEO of Fontana Limited. “This acquisition is an important step in our mission to continue growing our brand and providing customers with the best possible healthcare products and services.”
Chang said that the additional locations will strengthen its ability to serve communities, while expanding its customer base.
It increases Fontana’s store count from seven to 11 locations, further securing its lead as the nation’s largest pharmacy chain. Fontana generates $8 billion in annual revenue. Its revenue continues to climb, with the first quarter up 15 per cent year-on-year. Fontana was started some 56 years ago by the Chang family. Fontana is valued at $10 billion on the stock market.
The acquisition includes Monarch’s three locations in Kingston at Sovereign Centre, Loshusan Plaza, and Tropical Plaza, and one in Portmore at Sovereign Village. It will allow Fontana to serve a broader customer base with an expanded product range, including prescription medication and wellness items.
Bruce Loshusan, director of Monarch Pharmacies, expressed confidence in Fontana’s ability to continue the tradition of retail pharmacy excellence that Monarch started over three decades ago.
“After 35 years in the pharmacy business, the Loshusan family has decided to streamline their operations and focus on retail food and property development,” said Loshusan. “Because of our strong relationship with Anne Chang and Ray Therrien, we are extremely pleased that Fontana Pharmacy is acquiring our chain of pharmacies.”
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