Premiumbikes now owned by Robinsons Retail Holdings
Premiumbikes, one of the Philippines’ largest motorcycle dealership networks with 214 stores nationwide, has been acquired by Robinsons Retail Holdings, Inc. for a reported PHP 146.4 million. Founded in Angeles, Pampanga, in 2009 by billionaire businessman John Gokongwei, Premiumbikes retails motorcycles from Kawasaki, Honda, Yamaha, Suzuki, TVS, and KYMCO. Its growth was significantly aided by a partnership with Robinsons Bank for motorcycle financing.
Stanley Co, President and CEO of Robinsons Retail, stated that this acquisition is anticipated to enhance the company’s profitability within the booming motorcycle retail sector.
“This acquisition marks a key milestone for our company as we enter a new and fast-growing category that is also profitable… This move reflects our commitment to enhancing the retail experience and providing accessible, reliable, and affordable products that meet the evolving needs of Filipino consumers,” said Co.
According to sources, the agreed acquisition price corresponds to Premiumbikes’ 2024 audited book value. Before closing the deal, it also required approval from the Philippine Competition Commission.
Joselito Pojol, General Manager of Premiumbikes, said that the acquisition will give the company the much-needed room to grow further, especially in a market that still lags behind its ASEAN neighbors, with at least a 3:1 motorcycle ratio (Thailand) and a 4:1 ratio (Indonesia).
“We are excited to become part of the Robinsons Retail group and look forward to bringing our stores and services to more communities across the country,” said Pojol.
