RRHI ventures into motorcycles

Robinsons Supermarket Corp., a wholly owned subsidiary of the Gokongwei Group’s Robinsons Retail Holdings Inc. (RRHI), is expanding into the motorcycle business by acquiring 100 percent of Lance Gokongwei’s Premiumbikes Corp. for P146.4 million.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange (PSE), RRHI said Robinsons Supermarket signed a share purchase agreement to acquire Premiumbikes following the approval of the transaction by the company’s board of directors.

Premiumbikes is a motorcycle retailer in the Philippines, currently operating 214 stores nationwide. The agreed purchase price of P146.4 million is equivalent to Premiumbikes’ audited book value for 2024.

RRHI said it engaged a third-party financial consultant to prepare a fairness opinion and valuation report on the Premiumbikes shares.