RRHI inks deal to buy De Oro Pacific
GOKONGWEI-led Robinsons Retail Holdings Inc. has expanded its multi-format retailing business with the acquisition of a majority stake in De Oro Pacific Home Plus Depot, a big box builders hardware depot with three store chain in Northern Mindanao.
The acquisition was made through RRHI’s subsidiary RHI Builders and Contractors Depot Corp., the company disclosed to the Philippine Stock Exchange on Monday.
De Oro Pacific Home Plus Depot, which started operating in 1993, has stores located in Cagayan de Oro and Iligan City with combined gross floor area of around 9,400 square meters.
The company also operates a 3,000-sqm warehouse in Cagayan do Oro that supports the three De Oro Pacific Home Plus Depot stores.