Newly listed Robinsons Retail buys Eurogrocer

Robinsons Retail Holdings Inc. bought a chain of supermarkets mostly located in Central and Northern Luzon for P290 million as part of an effort to expand its business operations.

 

In a disclosure to the Philippine Stock Exchange Monday, Robinsons Retail said its wholly-owned subsidiary Robinsons Supermarket Corp. agreed to buy 100 percent of Eurogrocer Corp., which operates six supermarkets which carry the brand names EZ Mart and EZ Supermarket in Tarlac province and Northern Luzon.

 

The acquisition is still subject to the satisfaction of conditions mutually agreed upon by the parties, Robinsons Retail noted.

 

With the acquisition, Robinsons Retail expands its presence in the province of Tarlac and the nearby provinces in Central and Northern Luzon.

 

As of end-September 2013, Robinsons Retail was running 982 stores and plans to increase the number to 1,391 by 2014.

 

It listed on the Philippine Stock Exchange in early November.

 

It operates Robinsons Supermarkets and Robinsons Department Stores, Handyman, Do It Best, True Value, Howards Storage World, Toys "R" Us, international apparels and is the local franchisor of Japanese convenience store chain Ministop. – Danessa Rivera/VS, GMA News