KUALA LUMPUR - Private equity firm Creador is allocating 100 million ringgit in its venture into the pharmacy retail business through RedCap Pharmacy.
Founder and CEO of Creador Brahmal Vasudevan had on Tuesday unveiled plans to grow the chain into a major national player.
He added as the Malaysian consumer becomes more sophisticated, there would be increasing healthcare needs and retail pharmacies will play an important role serving this need.
“Based on our estimates, the Malaysia pharmacy space is still fairly underpenetrated. Creador sees an exciting opportunity for us to invest in and create a modern retail pharmacy offering world class experience for our customers. We have set aside RM100mil to support RedCap’s growth,” he said.
In phase one, Creador acquired D’Apotic Pharmacy last April as the platform to grow this investment.
For phase two, Creador teamed up with Ian Cruddas, who was instrumental in building out some of the large retail chains in Malaysia.
“Together with our management team, Creador is committed to drive this transformation, leveraging on our experience in partnering with entrepreneurs across our key markets to build RedCap into a world class business,” added Vasudevan.
Other successful consumer brands that Creador has invested in Malaysia include Old Town White Coffee, Bonia, GHL and CTOS.
Creador is a private equity firm focussed on long-term investments in growth-orientated businesses in South and Southeast Asia