Robinsons Retail ventures into motorcycle retailing

Robinsons Retail Holdings Inc. (RRHI) is stepping into higher gear as it expands into the motorcycle retailing business.

- By RICHMOND MERCURIO

RRHI, through subsidiary Robinsons Supermarket Corp., has inked a share purchase agreement to acquire 100 percent of Premiumbikes Corp. from tycoon Lance Gokongwei for P146.4 million.

Gokongwei is chairman of Robinsons Supermarket and adviser to the board of RRHI.

The company said the acquisition, which is in line with its strategy to diversify revenue streams and expand into profitable retail formats, is subject to customary closing conditions, including regulatory clearance from the Philippine Competition Commission.

"This acquisition marks a key milestone for our company as we enter a new and fast-growing category that is also profitable," RRHI president and CEO Stanley Co said.