Robinsons Retail Holdings, Inc., through subsidiary Robinson’s Supermarket Corp., today signed a Share Purchase Agreement to acquire 100 percent of Premiumbikes Corp. from Mr. Lance Gokongwei, following the approval of the transaction by the company’s Board of Directors earlier today.
The agreed purchase price is P146.4 million, equivalent to 1.0x Premiumbikes’ audited book value for 2024.
Premiumbikes is a motorcycle retailer in the Philippines, currently operating 214 stores nationwide.
Robinsons Retail engaged a third-party financial consultant to prepare a fairness opinion and valuation report on the Premiumbikes shares. The transaction was reviewed by Robinsons Retail’s Related Party Transaction Committee, which subsequently endorsed it to the Board of Directors for approval.
The acquisition is subject to customary closing conditions, including regulatory clearance from the Philippine Competition and Consumer Protection Commission.
Underserved market
With consistent profitability over the past few years, Premiumbikes is well-positioned for integration into a retail operator like Robinsons Retail. For full-year 2024, Premiumbikes reported net sales of P4.17 billion (+15.2 percent year-on-year) and EBITDA (earnings before income tax, depreciation, and amortization) of P324.2 million (+36.7 percent year-on-year).
This acquisition enables Robinsons Retail to enter the growing motorcycle market in the Philippines, in line with its strategy to diversify revenue streams and expand into profitable retail formats. The rising demand for motorcycles indicates a promising industry outlook.