Robinsons Retail buys Jaynith’s Supermarket

(Updated 6:46 p.m.) Robinsons Retail Holdings Inc. is buying Jaynith’s Supermarket, a three-store chain in Metro Manila, Rizal and Laguna with combined sales of more than P700 million.

 

In a disclosure to the Philippine Stock Exchange Monday, Robinsons Retail said Jaynith's will be acquired under a share purchase deal through wholly-owned subsidiary Robinsons Supermarket Corporation.

 

Jaynith’s Supermarket – with stores in Pasig City, and San Mateo, Rizal and Calamba, Laguna – is owned and operated by JAS 8 Retailing Management Corporation.

Robinsons Retail reached an agreement with owners of Jaynith’s Supermarket to acquire 100-percent interest in the supermarket operator, investor relations head Gina Roa-Dipaling told GMA News Online in a phone interview.

"We signed a non-disclosure agreement with the owners so we cannot announce the acquisition price. We expect to close the deal in early February," she said.

Jaynith’s Supermarket started operating in April 2001 and in 2012 generated approximately P740 million in sales.

 

Robinsons Supermarket ended 2013 with 91 stores and targets to open 20 to 22 stores this year. 

 

Robinsons Retail finished 2013 with a total of 1,064 stores or 152 more stores than in 2012, with 24 percent of the new stores opened in the Visayas and Mindanao last year and 42 percent in Luzon outside Metro Manila in line with plans to open more stores outside the metropolis. – VS, GMA News