Fontana expanding through acquisition of Monarch Pharmacy chain
/ Our Today
administratorPharmacy network to climb to 11 locations islandwide
Durrant Pate/Contributor
Pharmacy chain Fontana Limited has signed an agreement to acquire the Monarch chain of pharmacies from Gerk Limited, which is owned by the Loshusan family of the Loshusan supermarket chain.
This acquisition will see Fontana further expanding its store footprint to 11 locations across Jamaica by acquiring Monarch’s four pharmacies, three of which are located in Kingston and the other in Portmore at Sovereign Village. The three other Monarch’s locations are Sovereign Centre, Loshusan Plaza and Tropical Plaza.
Fontana anticipates that the acquisition should be closed during this current quarter (January to March 2025) with some operational changes. The plan is to have those operational changes integrated into Fontana’s existing network throughout the rest of 2025.
In a media release on Wednesday, Fontana reported that due diligence on the agreement is to begin shortly.
Principals happy with the move
CEO of Fontana Limited, Anne Chang says, “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.”
For his part, Monarch Pharmacy’s, Bruce Loshusan indicates that after 35 years in the pharmacy business, the Loshusan family has decided to streamline their operations and focus on retail food and property development. According to him, “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.”
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