Robinsons Retail to fully own Ministop Philippines

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Metro Manila (CNN Philippines, January 24) — Robinsons Retail Holdings Inc. (RRHI) will be assuming full ownership of Ministop Philippines, it confirmed Monday.

In a disclosure to the local bourse, RRHI said its subsidiary Robinsons Supermarket Corp. will be acquiring Ministop Japan’s 40% stake in their joint venture Robinsons Convenience Stores Inc. (RCSI) next month.

This will raise the Gokongwei-led company’s share in RCSI — which is the exclusive franchisee of Ministop in the country — from 60% to 100%.

The listed retail giant further said it will continue to run local Ministop branches using the brand "until they are repurposed and appropriately rebranded in consideration of” signature food items Uncle John's Fried Chicken and Kariman.

Nikkei Asia reported over the weekend that Ministop will be exiting the Philippines and South Korea in line with efforts to further focus its resources on the Japanese market.