ROBINSONS Retail Holdings, Inc. (RRHI) has received approval from the Philippine Competition Commission (PCC) to acquire Premiumbikes Corp., marking the company’s entry into the motorcycle market.
“This acquisition represents Robinsons Retail’s entry into the motorcycle segment. It strengthens our commitment to build a more diversified and future-ready portfolio that caters to the changing lifestyles and needs of Filipino consumers,” RRHI President and Chief Executive Officer (CEO) Stanley C. Co said in a regulatory filing on Tuesday.
“We see long-term potential in Premiumbikes and look forward to its successful integration into the Robinsons Retail ecosystem,” he added.
In July, RRHI, through its subsidiary Robinsons Supermarket Corp., signed a share purchase agreement to acquire 100% of Premiumbikes from Lance Y. Gokongwei, president and CEO of JG Summit Holdings, Inc., for P146.4 million.
The deal involved 20.15 million shares at P7.27 per share, equivalent to 1.0x the audited book value of Premiumbikes for 2024.
Premiumbikes operates 215 stores nationwide, carrying brands such as Honda, Yamaha, Suzuki, Kawasaki, Kymco, and TVS.
In 2024, net sales grew by 15.2% to P4.2 billion, while earnings before interest, taxes, depreciation, and amortization climbed 36.7% to P324 million.
According to the company, the demand for motorcycles, coupled with relatively low ownership rates, indicates long-term growth potential.
“In the Philippines, motorcycle ownership stands at one motorcycle for every eight people (8:1), compared to 4:1 in Indonesia and Vietnam, and 3:1 in Thailand,” RRHI said.
“The integration of Premiumbikes into Robinsons Retail’s portfolio opens opportunities to strengthen our operations. We look forward to leveraging Robinsons Retail’s nationwide presence and retail expertise to deliver better value and service to our customers,” Premiumbikes General Manager Joselito O. Pojol said.
Shares of RRHI rose 0.94%, or 30 centavos, to P32.30 per share on Tuesday. — Alexandria Grace C. Magno
