Fontana acquiring Monarch Pharmacy

Fontana Limited has announced it has signed an agreement to acquire the Monarch chain of pharmacies from Gerk Limited.

In a media release on Thursday, Fontana said due diligence on the agreement is to begin shortly and that the move could potentially expand its store footprint to 11 locations across Jamaica.

Monarch Pharmacy has three locations in Kingston, at Sovereign Centre, Loshusan Plaza and Tropical Plaza, and one in Portmore at Sovereign Village.

"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. Additional locations will strengthen our ability to serve our communities, expand our customer base, and further solidify Fontana Pharmacy as a leading name in pharmacy care and retail in Jamaica," said Anne Chang, CEO of Fontana Limited.

Meanwhile, Monarch Pharmacy's Bruce Loshusan said after 35 years in the pharmacy business, the Loshusan family has decided to streamline their operations and focus on retail food and property development.

"Because of our strong relationship with Anne Chang and Ray Therrien, we are extremely pleased that Fontana Pharmacy is acquiring our chain of pharmacies and are confident that they will continue the tradition of retail pharmacy excellence that Monarch started over three decades ago,” he said.

Fontana said it anticipates closing the transaction during the third quarter, January to March 2025, with operational changes and integration into its existing Fontana network throughout the rest of 2025.

Follow The Gleaner on X and Instagram @JamaicaGleaner and on Facebook @GleanerJamaica. Send us a message on WhatsApp at 1-876-499-0169 or email us at onlinefeedback@gleanerjm.com or editors@gleanerjm.com.