Robinsons Enters Growing Motorcycle Market By Acquiring Lance Gokongwei's Premiumbikes Corp.

Robinsons Supermarket Corp., a subsidiary of Robinsons Retail Holdings Inc. (RRHI), is entering the motorcycle business by acquiring 100% of Premiumbikes Corp. from Lance Gokongwei for ₱146.4 million.

In a disclosure to the Philippine Stock Exchange, RRHI said the purchase was approved by its board of directors and formalized through a share purchase agreement. The acquisition price reflects Premiumbikes’ audited book value for 2024.

Premiumbikes is a major motorcycle retailer in the Philippines, currently operating 214 stores nationwide. The company reported strong performance in 2024, with ₱4.17 billion in net sales (up 15.2% year-on-year) and ₱324.2 million in EBITDA (up 36.7%).

To ensure the fairness of the deal, RRHI engaged a third-party financial advisor to conduct a valuation and fairness opinion. The acquisition was also reviewed by RRHI’s related party transaction committee before being approved by the board. The transaction is still subject to regulatory clearance from the Philippine Competition Commission.

RRHI President and CEO Stanley C. Co said the move is part of the company’s strategy to diversify its business. “This acquisition allows Robinsons Retail to tap into the fast-growing motorcycle market while expanding into a profitable retail segment,” Co said.

He added, “It aligns with our goal to offer accessible and relevant products that meet the evolving needs of Filipino consumers.”

Premiumbikes General Manager Joselito Pojol expressed optimism about the partnership. “We’re excited to join the Robinsons Retail group and bring our stores and services to more communities nationwide,” he said.

RRHI cited the country’s low motorcycle penetration rate—8 people per motorcycle—compared to 4:1 in Indonesia and Vietnam, and 3:1 in Thailand. This suggests significant room for growth in the local market.

According to the Federation of Asian Motorcycle Industries (FAMI), 746,016 motorcycles were sold in the Philippines from January to May 2024, representing an 8% increase from 688,790 units sold during the same period in 2023. Sales in May 2024 alone rose to 150,781 units from 144,210 in 2023.