Robinsons Retail Holdings Inc. to have 100% Stake in Local Ministop Chain

Ministop Japan recently announced that it will be exiting from the Philippine and South Korean markets as it plans to focus on its home market during the prolonged global pandemic. In the wake of the decision, Gokongwei’s Robinsons Retail Holdings Inc. (RRHI) is expected to acquire Ministop Japan’s 40% stake which will allow it to fully own the local stores.

There are around 460 Ministop stores in the country at the moment. RRHI, being the exclusive franchisee, will continue to operate the local chain under the Ministop brand within the transition period until they have been “repurposed and appropriately rebranded in consideration of strong ready-to-eat offerings such as Uncle John’s Fried Chicken and Kariman” per its agreement with Ministop Japan.

“Our stores will continue to carry our bestsellers while we continue to diversify our ready-to-eat menu and offer new products to the market. Customers can also rely on our convenient e-services and bills payment facilities,” explained Ministop Philippines general manager Suresh Ramalinggam.

Ministop was first established in the Philippines in 2000 through a joint venture between RRHI, Mitsubishi, and Ministop Japan. RRHI then bought out Mistubishi in 2018 acquiring a 60% stake in the local convenience store chain. In South Korea, Ministop Japan also sold its stake to its venture partner Lotte for $267 million.

“I would like to thank Ministop Japan for our partnership over the years. Under the Ministop banner we were able to bring to the public well-loved products and essential services,” said RRHI president and chief executive officer Robina Gokongwei-Pe.

Sources: Inquirer, Rappler