Robinsons Retail Holdings, Inc. (RRHI), through its wholly-owned subsidiary Robinsons Supermarket Corporation, today announced it has signed a share purchase agreement to acquire 100% of Premiumbikes Corporation for Php146.4 million. The acquisition, approved by RRHI’s Board of Directors, values Premiumbikes at 1.0x its audited book value for 2024.
Premiumbikes Corporation, a consistently profitable motorcycle retailer, currently operates 214 stores nationwide. For full-year 2024, Premiumbikes reported net sales of Php4.17 billion, a 15.2% year-on-year increase, and EBITDA of Php324.2 million, up 36.7% year-on-year.
This strategic acquisition marks Robinsons Retail’s entry into the burgeoning Philippine motorcycle market, aligning with its strategy to diversify revenue streams and expand into profitable retail formats. The move capitalizes on the promising industry outlook driven by rising demand and a currently underpenetrated market. The Philippines has a motorcycle possession ratio of eight people to one motorcycle (8:1), significantly higher than 4:1 in Indonesia and Vietnam, and 3:1 in Thailand, indicating substantial room for growth.
“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 O. Pojol, General Manager of Premiumbikes. “We are excited to become part of the Robinsons Retail group and look forward to bringing our stores and services to more communities across the country.”
Stanley C. Co, President & CEO of Robinsons Retail, commented, “This acquisition marks a key milestone for our company as we enter a new and fast-growing category that is also profitable. This move reflects our commitment to enhancing the retail experience and providing accessible, reliable, and affordable products that meet the evolving needs of Filipino consumers.”
The transaction, which involved a fairness opinion and valuation report from a third-party financial consultant and was reviewed by Robinsons Retail’s Related Party Transaction Committee, is subject to customary closing conditions, including regulatory clearance from the Philippine Competition Commission.
