Villar group consolidating retail assets
The group of businessman and former politician Manuel Villar Jr. is consolidating its retail assets under a new holding company.
In an interview with reporters on Saturday, Villar said the company, called MBV Retail Holdings, would have an initial capital of P1 billion.
It will be the new parent of the Villar group’s convenience store chain Finds and housing/building materials supply store AllHome.
AllHome is an affiliate of listed property developer Vista Land and Lifescapes Inc., which Villar chairs.
The group’s department stores located within its shopping malls will also be consolidated under the new holding firm, Villar said.
The restructuring, similar to what the Gokongwei group is doing for its Robinsons Retail Holdings Inc., signals Villar’s intention to grow the business faster.
“We want to go big into retail as well,” Villar said after an event marking the opening of Paseo de Andalusia “village center” in its Camella-branded project in Pampanga.
Based on the expansion plans outlined by Villar, growth would accelerate in the coming years.
For Finds, which will be renamed “All Day,” Villar said the plan was to end 2013 with 100 stores from the present 80.
“We want to double the number of All Day (in 2014),” he added.
AllHome will be rolled out at a slower pace. Villar said the group was planning to build five branches this year.
He said four to five more AllHome outlets would opened in 2014.
“There is synergy and we want to capitalize on this as the largest homebuilder and improve logistical support for the housing group,” he said. Miguel R. Camus