MANILA - Small liquefied petroleum gas (LPG) player PR Gaz Inc., said to be led by supermarket chain owner Lucio Co., has reportedly acquired Liquigaz Philippines Corp.
The Department of Energy (DOE) confirmed the transaction on Wednesday.
“PR Gaz acquired Liquigaz. I don’t have the other details but there is a notice from PR Gaz that it bought Liquigaz. PR Gaz is a Filipino firm. I don’t know if it has a foreign partner or not,” said Undersecretary Zenaida Monzada, currently the DOE officer in charge.
PR Gaz operates its own network of LPG convenience stores called PR Gaz Haus, with branches across Luzon. As of 2013 its LPG retail outlets reached 300, and the company aims to increase the number to 500 by 2015.
PR Gaz stores are in key areas in Cavite, Laguna, Bulacan, Pampanga, Tarlac, Pangasinan, Bataan, Zambales, La Union, Batangas and major cities in Metro Manila. It has also opened several branches in Baguio and as far down south as the Bicol region.
“From a distributor of the Caltex LPG at the start, PR Gaz has since grown the business into offering its own signature brand. It also developed alliances with original equipment manufacturers to sell various cooking equipment and accessories, making PR Gaz outlets a virtual one-stop shop for household cooking needs. PR Gaz is also the first in the local industry to franchise its LPG store concept,” the company said on its web site.
Monzada said the deal will not result in monopoly because PR Gaz is not a dominant player in the LPG industry. According to the DOE web site, Petron Corp.’s market share in the LPG industry stands at 35 percent; followed by Liquigaz, 30 percent; and Isla LPG Corp., 15 percent. The remaining 15 percent is distributed among the new players. Liquigaz is a unit of SHV of the Netherlands. There were talks last year that Petron Corp. wanted to buy Liquigaz.