ROBINSONS Retail Holdings Inc. on Monday said it has acquired majority interest in Mindanao-based hardware chain De Oro Pacific Home Plus Depot, in line with its goal to further expand its presence in the builders hardware segment.
In a disclosure to the Philippine Stock Exchange, the Gokongwie-led retail firm said it purchased De Oro Pacific through its unit, RHI Builders and Contractors Depot Corp., for an undisclosed amount.
De Oro Depot, which started its operations in 1993, has three stores in Cagayan de Oro (CDO) and Iligan City with a combined gross floor area of about 9,400 square meters.
The company also utilizes a 3,000-square meter warehouse in Cagayan de Oro that supports the three De Oro Depot stores.
“The acquisition will add to Robinsons Retail’s big box hardware store portfolio,” the company told the local bourse.
In July 2014, the company acquired RHI Builders, which is owned and operated by AM Builders Home and Depot that was later renamed Robinsons Builders. To date, it has 17 hardware stores in the chain, which are mainly located in the Visayas region.