PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

Robinsons Retail buys hardware chain

Posted on May 12, 2014 10:45:58 PM [ BusinessWorld Online ]

GOKONGWEI-LED Robinsons Retail Holdings, Inc. has bought into a Visayas-based hardware chain allowing it to expand its market beyond those improving their homes to building contractors.

The company, through its subsidiary Robinson’s Handyman, Inc., acquired a 67% stake in A.M. Builders’ Depot through a memorandum of agreement signed recently, it told the stock exchange yesterday.

The hardware chain operates 17 stores in Cebu, Iloilo, Bacolod, Dumaguete, and other key cities in the Visayas region.

A.M. Builders would be the latest brand under Robinsons Retail store lineup that includes Handyman Do it Best, True Value and Howards Storage World -- all three catering mostly to household owners.

“The acquisition places Robinsons Retail in a unique position, giving Robinsons Retail a strong presence in both the DIY (do-it-yourself) hardware and builders (big box) hardware retail formats,” the retail company said in a statement filed with regulators.

Robinsons said its DIY business will make available to A.M. Builders’ Depot its home improvement products, while the appliance section in the latter’s stores can be complemented by Robinson Retail’s home and kitchen appliances and audio and video products.

“The acquisition will be a good addition to our retail portfolio as it will serve another segment of the fast growing retail market of the country,” Robina Gokongwei-Pe, president and chief operating officer of Robinsons Retail, said in the statement.

Robinsons Retail’s DIY business posted a 14.5% increase in net sales to P7.1 billion last year, accounting for 10.5% of the group’s P67.2 billion consolidated net sales. -- D. J. Magturo
______________________________________________________________________

real estate central philippines
Copyright ©2008-2017