Gokongwei-led Robinsons Retail Holdings Inc. has expanded its multiformat 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.
De Oro Pacific Home Plus Depot, which started operating in 1993, has stores in Cagayan de Oro and Iligan City with a combined gross floor area of 9,400 square meters. The company also operates a 3,000-sq m warehouse in Cagayan de Oro that supports the De Oro Pacific Home Plus Depot stores.
“The purchase of De Oro Pacific Home Plus Depot demonstrates the bullish stance of Robinsons Retail group in the DIY (do-it-yourself) business,” RRHI said, adding that the DIY business was riding on the sustained strong growth of the construction sector driven by the huge backlog in housing.
In July 2014, RRHI acquired RHI Builders and Contractors Depot Corp., owner and operator of AM Builders Home Depot (now renamed Robinsons Builders), which operates 17 big box stores in the Visayas region.
As of June 2016, RRHI operated a total of 153 mall-based DIY stores: 132 Handyman Do It Best stores; 19 True Value stores and two True Home by True Value stores. Doris Dumlao-Abadilla