March 16 - 31 , 2018 PHILIPPINE ASIAN NEWS TODAY 17
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Robinsons expects
supermarkets , department stores , do-it-yourself stores , drugstores , convenience stores and apparel stores . It also has a minority interest in Robinsons Bank .
Rustans Supercenters is one of the Philippines ’ leading food retailers operating a diverse brand portfolio of formats . The combined group will be one of the top three retailers in the Philippines with over 1,700 stores .
Dairy Farm will have two board seats in RRHI once the transaction is completed .
Dairy Farm said it expected to fund the investment through a combination of existing cash and borrowings .
Rustans Supercenters reported total sales of P22 billion ($ 440 million ) and operated 12 hypermarkets and 61 supermarkets in 2017 .
RRHI ’ s sales reached P115 billion ($ 2.3 billion ) and operated 1,718 retail stores in the Philippines , including 154 supermarkets , last year .
Dairy Farm said the new
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partnership would combine strong local knowledge with the international strength and experience of a leading pan-Asian retailer .
Dairy Farm said it would maintain its strong presence in the Philippines and contribute to the growth of the consumer market with better products , services and experiences .
“ We are delighted to be increasing our investment in the fastgrowing Philippine food retail sector in partnership with Robinsons Retail and the Gokongwei Family . Rustan Supercenters and Robinsons Retail are already leading high-quality retailers in the Philippines and we believe that our customers will benefit from being serviced by a larger group that can use its combined strengths and scale to improve competition , quality and value for them . The partnership combines two strong , experienced and talented teams , who will have access to increased future opportunities ,” Dairy Farm group chief executive Ian McLeod said . ( J . B . Austria . TMS )
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