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Manila Bulletin devider Business devider Gokongweis buying out Japanese partner in local Ministop franchise

Gokongweis buying out Japanese partner in local Ministop franchise

Published Jan 24, 2022 02:48 pm

Gokongweis buying out Japanese partner in PH Ministop franchise

By JAMES A. LOYOLA

Robinsons Retail Holdings, Inc. (RRHI) through its wholly owned subsidiary, Robinsons Supermarket Corporation, is buying out its Japanese partner and taking full control of the Ministop franchise in the Philippines.

In a statement, RRHI said it will acquire Ministop Japan’s (MSJ) 40 percent stake in Robinsons Convenience Stores, Inc. (RCSI) this February, increasing its share from 60 percent to 100 percent.

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Robinsons Convenience Stores Inc. (RCSI) is the exclusive franchisee of Ministop in the Philippines.

Under the new agreement with Ministop Japan, RRHI will continue to operate the stores using the Ministop brand within the transition period agreed upon with Ministop Japan.

This will be until they are repurposed and appropriately rebranded in consideration of strong ready-to-eat offerings such as Uncle John’s Fried Chicken and Kariman.

RRHI President Robina Gokongwei-Pe

“I would like to thank Ministop Japan for our partnership over the years. Under the Ministop banner we were able to bring to the public well-loved products and essential services,” said RRHI President and CEO Robina Gokongwei-Pe.

Ministop Philippines General Manager Suresh Ramalinggam said “Our stores will continue to carry our bestsellers while we continue to diversify our ready-to-eat menu and offer new products to the market. Customers can also rely on our convenient e-services and bills payment facilities."

The Gokongwei group had brought the Ministop franchise to the Philippines in 2020 through a partnership with Ministop Japan and Mitsubishi Corporation.

While the Gokongwei group initially had a controlling 51 percent stake in the joint venture, it was able to increase this to 60 percent after buying out the interest of Mitsubishi in 2018.

Related Tags

Robinsons Retail Holdings Inc. (RRHI) Robina Gokongwei-Pe ministop
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