Robinsons Retail Holdings, Inc. (RRHI), the retail holding company of the Gokongwei family, has entered the Philippines’ growing motorcycle market with the acquisition of Premiumbikes Corp. for P146.4 million.
Premiumbikes is a motorcycle retailer in the Philippines with 214 stores nationwide.
RRHI, through its wholly-owned subsidiary Robinsons Supermarket Corp., signed a share purchase agreement to acquire Premiumbikes from Lance Gokongwei and his sister, RRHI chairman Robina Gokongwei-Pe.
The P146.4-million acquisition price is equivalent to 1.0x Premiumbikes’ audited book value for 2024.
The acquisition allows RRHI to enter the growing motorcycle market in the Philippines, aligning with its strategy to diversify revenue streams and expand into profitable retail formats.
“This acquisition marks a key milestone for our company as we enter a new and fast-growing category that is also profitable,” RRHI president and chief executive Stanley Co said.
“This move reflects our commitment to enhancing the retail experience and providing accessible, reliable and affordable products that meet the evolving needs of Filipino consumers,” said Co.
Premiumbikes reported net sales of P4.17 billion in 2024, up 15.2 percent year-on-year, and EBITDA of P324.2 million, higher by 36.7 percent year-on-year, as demand for motorcycles in the country remains on the rise.
RRHI said the market remains underpenetrated, with a motorcycle possession ratio of eight people to one motorcycle (8:1) in the Philippines, compared to 4:1 in Indonesia and Vietnam, and 3:1 in Thailand.
“The Philippines still has a low motorcycle penetration ratio compared to other Southeast Asian markets, which gives us a lot of room to grow,” said Joselito Pojol, general manager of Premiumbikes.
“We are excited to become part of the Robinsons Retail group and look forward to bringing our stores and services to more communities across the country,” said Pojol.
RRHI 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 Commission.
 has acquired Premiumbikes Corp. for P146.4 million, marking its entry into the fast-growing Philippine motorcycle retail market. The acquisition diversifies RRHI's revenue streams and expands its retail formats.%%excerpt%%){kind=link}