The Gokongwei-led Robinsons Retail Holdings Inc. (RRHI) has made a minor step in its aggressive expansion with the acquisition of a small supermarket chain that only has three stores.
Through its wholly owned subsidiary, Robinsons Supermarket Corp., RRHI struck a deal to acquire a 100-percent interest in Jaynith’s Supermarket, a three-store supermarket chain owned and operated by JAS 8 Retailing Management Corp.
Subject to closing conditions, the three stores that will be acquired are located at Pasig City, Metro Manila; San Mateo, Rizal; and Calamba, Laguna.
Jaynith’s Supermarket started operating in April 2001. In 2012, the three-store supermarket chain generated approximately P740 million in sales.
Robinsons Supermarket ended 2013 with 91 stores nationwide. It is targeting to open 20 to 22 stores in 2014.
Late last year, another unit of RRHI acquired the assets of a local retailer that has the right to sell in the Philippines the two of the most popular cosmetic brands in the international market.
In a previous disclosure to the local bourse, RRHI disclosed that through its wholly owned subsidiary Robinsons Specialty Stores Inc., it acquired the assets of Beauty Skinnovations Retail Inc., a company that operates eight Shiseido stores and two Benefit stores in various leading malls in Metro Manila, Cebu and Davao.
The acquisition includes the right to sell Shiseido and Benefit cosmetic products under a distribution agreement with Luxasia Inc., a leading distributor of world renowned fragrance and cosmetics brands in the Philippines, and Beauty Luxury Asia Inc., distributor of prestigious LVMH beauty brands in the country.
The 10 cosmetics stores were added to RRHI’s store network, which now totals over 1,000 stores upon completion of the closing requirements. RRHI finished 2013 with a total of 1,064 stores or an addition of 152 stores from 2012.
Approximately 24 percent of the new store openings in 2013 are located in the Visayas and Mindanao, and 42 percent are in Luzon outside of Metro Manila.