Robinsons Retail to acquire hardware chain
MANILA, Philippines – Robinsons Retail Holdings Inc., through its subsidiary Robinsons Handyman, is set to acquire a 67 percent stake in Visayas-based AM Builders’ Depot.
The acquisition is expected to boost Robinsons Retail’s presence in the do-it-yourself (DIY) hardware and builders hardware retail formats.
It will also allow Robinsons Retail to expand its target market to residential and building contractors.
Home improvement products from Robinsons Retail’s Handyman, True Value and Howards Storage World will be made available to AM Builders’ Depot.
AM Builders’ Depot stores will also carry Robinsons Appliances.
“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,” said Robinsons Retail president and chief operation officer Robina Gokongwei-Pe.
AM Builders’ Depot has 17 stores in Cebu, Iloilo, Bacolod, Dumaguete, and other cities in the Visayas.
“The synergy with Robinsons Retail’s DIY expertise in modern hardware retailing, its extensive store network, strong balance sheet and our 17-year experience and dedication in the finishing construction materials industry will ensure the success of this partnership,” said AM Builders’ Depot president Arsenio Rafael III