ROBINSONS Retail Holdings Inc. (RRHI) through its wholly owned subsidiary, Robinsons Supermarket Corp., will acquire Ministop Japan’s (MSJ) 40 percent stake in Robinsons Convenience Stores Inc. (RCSI) this February.
This will increase the Gokongwei-led firm’s share from 60 percent to 100 percent. RCSI is the exclusive franchisee of Ministop in the Philippines. Under the new agreement with Ministop Japan, RRHI will continue to operate the stores using the Ministop brand within the transition period agreed upon with Ministop Japan, until they are repurposed and appropriately rebranded in consideration of strong ready-to-eat offerings such as Uncle John’s Fried Chicken and Kariman.
“I would like to thank Ministop Japan for our partnership over the years. Under the Ministop banner, we were able to bring to the public well-loved products and essential services,” Robina Gokongwei-Pe, RRHI president and chief executive officer, said in a statement to the stock exchange Monday.
“Our stores will continue to carry our bestsellers while we continue to diversify our ready-to-eat menu and offer new products to the market. Customers can also rely on our convenient e-services and bills payment facilities,” said Suresh Ramalinggam, general manager of Ministop Philippines. (CSL)
(Photo grabbed from Robinsons Retail Holdings, Inc. website)
January 24, 2022
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