Robinsons Retail still on lookout for investments

MANILA, Philippines -  Robinsons Retail Group, the retailing arm of the Gokongwei Group, will continue to be on the lookout for opportunities for growth through mergers and acquisitions including two sectors missing in its retail portfolio, sports and furniture president and COO Robina Gokongwei-Pe said.

Gokongwei-Pe said mergers and acquisitions would remain sources of growth but declined to say whether the company is in active talks with potential partners.

What is clear, she said, is that there is room for growth and that there are two major sectors still missing in the portfolio.

“What is missing in the portfolio is sports and furniture but it will not necessarily be these two. It’s just that these two are missing in the portfolio,” Gokongwei-Pe said.

Last month, the company acquired 51 percent of The Generics Pharmacy (TGP), a family-owned generics drugstore chain in the country with over 1,800 stores.

The move widens the Gokongwei Group’s footprint in the drugstore business after acquiring South Star Drug in 2012.

While the retail industry in general would continue to move toward consolidation, Gokongwei-Pe said the company plans to open at least two community malls a year in Metro Manila and nearby areas.