Philippine Gokongwei Family To Buyout Robinsons Retail In Deal Valuing Company At $850 Million |
Philippine tycoon Lance Gokongwei and his family has offered to buyout the minority investors in Robinsons Retail Holdings Inc. (RRHI) in a deal valuing the company at 51.7 billion pesos ($850 million).
The Gokongwei family and their privately held investment vehicle JE Holdings holds a 66.6% stake in Robinsons Holdings, which owns one the country’s largest chain of supermarkets, drugstores and department stores. JE Holdings is offering to buy the rest of the company at 48.30 pesos per share, a 32.2% premium over the stock’s one-year volume-weighted average price as of March 26, Robinsons Retail said in a statement.
The proposed tender offer, which will cost JE Holdings about 17 billion pesos, and delisting was approved by the board of Robinsons Retail. The Gokongwei family is taking the company private as the current share price does not reflect the intrinsic value of the company.
“The proposed tender offer and voluntary delisting provide shareholders with a meaningful exit opportunity,” Robinsons Retail CEO Stanley Co said in the statement. “While management remains confident in RRHI’s long-term prospects, the company’s share price has not fully reflected its intrinsic value. Given current market conditions and macroeconomic uncertainties, it may take time before valuations realign with fundamentals.”The transaction is subject to compliance with all applicable regulatory requirements, including those of the Securities and Exchange Commission, the Philippine Stock Exchange, and the Philippine Competition Commission, the company said. Robinsons Retail was listed in 2013 after raising 28 billion pesos in an IPO priced at 58 pesos a share.
“Robinsons Retail has grown through the trust and partnership of our shareholders,” Robina Gokongwei-Pe, chairman of the company, said in the statement. “This proposed transaction reflects that commitment while preparing the company for its next chapter.”
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Robinsons Retail’s revenue rose 5.7% to 210.4 billion pesos in 2025, ending the year with over 15 billion pesos in cash and cash equivalents. It is the country’s second-biggest retail company by sales after SM Retail, owned by SM Investments, the listed holding company of the family of the late retail tycoon Henry Sy Sr.
With a combined net worth of $1.8 billion, the Gokongwei clan is among the wealthiest in the Philippines. Aside from Robinson's Retail, the family through their publicly-listed holding firm JG Summit has interests in food, airlines, telecom, banking, food, power and property.
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JG Summit was founded by the late John Gokongwei Jr., who started a corn starch factory in 1957 that has since grown into Universal Robina, one of the country’s largest food and beverage companies.