GOKONGWEI-LED Robinsons Retail Holdings, Inc. (RRHI) said it is looking to further expand its motorcycle dealership business nationwide following its acquisition of Premiumbikes Corp.
“We’re still very small compared to the number one player, and you see the number of motorcycles on the road. So, there’s definitely opportunity for us to really expand and open more stores, capture more areas,” RRHI President and Chief Executive Officer (CEO) Stanley C. Co told reporters on the sidelines of an event last week.
“For example, you don’t even see Premiumbikes in our malls.”
Robinsons Supermarket Corp., a wholly owned subsidiary of RRHI, recently signed a definitive share purchase agreement to acquire 100% of Premiumbikes from Lance Y. Gokongwei, the president and CEO of JG Summit Holdings, Inc.
In a regulatory filing last week, the P146.4-million deal involves the acquisition of 20.15 million shares at P7.27 per share, with its transaction value equivalent to 1.0x the audited book value of Premiumbikes for 2024.
RRHI is also open to further expanding Premiumbikes in the Visayas and Mindanao, Mr. Co said, noting that most of its stores remain concentrated in Luzon.
“We’re really covering the whole country,” Mr. Co said.
Premiumbikes, which carries motorcycle brands like Honda, Yamaha, Suzuki, Kawasaki, Kymco, and TVS, has about 214 stores nationwide.
In 2024, Premiumbikes’ net income grew by 15.2% to P4.17 billion. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped by 36.7% to P324.2 million.
RRHI, the retail arm of JG Summit, has a portfolio of 2,448 stores as of end-March. This consists of 760 food stores, 1,131 drugstores, 50 department stores, 225 DIY stores, 282 specialty stores, and 2,116 franchised stores under The Generics Pharmacy brand.
At the local bourse on Thursday, RRHI shares rose by 0.13% or 5 centavos to close at P38.05 per share. — Beatriz Marie D. Cruz
