The Tantoco family has decided to combine all its consumer brands under one roof through the acquisition by publicly-listed SSI Group Inc. of Rustan Marketing Corporation (RMK) for ₱232.08 million.
In a disclosure to the Philippine Stock Exchange, SSI said its Board of Directors had approved the acquisition by its wholly-owned subsidiary, Stores Specialists, Inc. (SSI), of 99.44 percent of RMK.
RMK is the exclusive wholesale distributor of brands such as Samsonite, American Tourister, Tefal Cookware, Lacoste Fragrances, Maison Margiela Fragrances, Spanx, Nuxe Skincare, OPI Nail Polish, and Nine West Footwear.
“SSI’s acquisition of RMK will allow SSG to become a listed multi-channel distributor of premiere brands in the Philippines.
“The acquisition ensures that SSG is able to offer its brand partners distribution across a spectrum of retail channels, from specialty stores to wholesale distribution through third party department stores and supermarkets,” SSI Group said.
Members of the Tantoco Family own RMK. SSI’s acquisition of RMK from the selling shareholders was reviewed and approved by SSG’s Related Party Transactions Committee in accordance with the SSG Manual of Corporate Governance and Material Related Party Transactions Policy.
Prior to the closing of the transaction, certain selling shareholders of RMK shall infuse a total of ₱232,080,764.00 (acquisition price is ₱232,080,773.00) into RMK as part of the conditions precedent to the closing of the transaction.
RMK is one of the country's largest wholesale distributors of renowned global brands with products ranging from fragrances, beauty, fashion, footwear, and luggage to home and lifestyle.
Established in 1964, the firm is key to the successful market entry of numerous brands and the subsequent expansion of their business into major cities nationwide.
Today, RMK is a fully integrated, multi-channel wholesale distribution company with a network of more than 1,300 wholesale and retail outlets and a presence on all major e-commerce platforms.
In 2024, RMK’s unaudited revenues, EBITDA, and net income were ₱1.09 billion, ₱111.2 million, and ₱44.2 million, respectively.