RRHI acquires Premiumbikes for PHP 146.4M

Robinsons Retail Holdings Inc. (RRHI) is entering the motorcycle retailing business through a PHP 146.4 million acquisition of Premiumbikes Corp., subject to regulatory approval.

The company signed a share purchase agreement with Lance Gokongwei, president and CEO of JG Summit Holdings Inc., to acquire 20.15 million shares at PHP 7.27 per share.

Stanley Co, RRHI's president and CEO, stated that the acquisition marks a significant step into a fast-growing and profitable sector.

Premiumbikes currently operates 214 stores nationwide, carrying brands such as Honda, Yamaha, Suzuki, Kawasaki, Kymco, and TVS. For 2024, Premiumbikes reported a net income growth of 15.2% to PHP 4.17 billion.

The acquisition is part of RRHI's strategy to diversify revenue streams and enhance retail offerings for Filipino consumers with accessible and affordable products.