Robinsons consolidates retail units
MANILA, Philippines — Gokongwei-owned retail giant Robinsons Retail Holdings Inc. (RRHI) is merging several of its retail companies with Robinsons’ Supermarket Corp.
RRHI wholly owned subsidiary Robinsons’ Supermarket merged with Robinsons’ Inc., Robinsons Toys Inc. and Robinsons Gourmet Food and Beverage Inc.
Robinsons Supermarket will be the surviving entity.
The Gokongwei groups expect a more efficient operation with the merger.
“The merger is expected to increase operational efficiency by reducing back-end paper work and processes by and among these companies,” RRHI said.
RRHI said the merger is not expected to have any significant effect on its business, financial condition, and operations .
Robinsons Supermarket issued 84.3 million shares with a par value of P1 per share in exchange for the consolidated net assets of Robinsons Inc. and its wholly owned subsidiaries Robinsons Toys and Robinsons Gourmet.
The Securities and Exchange Commission approved the merger in September last year.
RRHI reported a 26.5 percent hike in net sales to P116.2 billion in January to September.
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