MANILA, July 25 – Robinsons Retail Holdings Inc said it will acquire 100% of Premiumbikes Corp, a motorcycle retail chain with 214 stores across the Philippines, for PHP146.4 million ($2.5 million).
The acquisition will be made through Robinson’s Supermarket Corp, a wholly owned subsidiary of the company.
The purchase price is equivalent to Premiumbikes’ 2024 audited book value, the company said in a stock exchange disclosure.
Robinsons Retail said the transaction had been approved by its board of directors following a review by its Related Party Transaction Committee and a fairness opinion by an independent financial consultant.
The deal is subject to customary closing conditions, including regulatory clearance from the Philippine Competition Commission.
Premiumbikes reported net sales of PHP4.17 billion in 2024, up 15.2% year-on-year, and EBITDA of PHP324.2 million, a 36.7% increase.
The acquisition marks Robinsons Retail’s entry into the motorcycle retail market, part of its strategy to diversify into new retail formats.
The Philippines has a motorcycle penetration ratio of 8:1, compared to 4:1 in Indonesia and Vietnam, and 3:1 in Thailand, the company said.
“The Philippines still has a low motorcycle penetration ratio compared to other Southeast Asian markets, which gives us a lot of room to grow,” said Joselito Pojol, General Manager of Premiumbikes.
“This acquisition marks a key milestone for our company as we enter a new and fast-growing category that is also profitable,” said Robinsons Retail President and CEO Stanley Co.
Business News Asia
