Gokongweis get full control of Ministop PH
Business

Gokongweis get full control of Ministop PH

The Gokongwei family is buying out its Japanese partner in Ministop Philippines, the second biggest convenience store in the Philippines amid the business downturn caused by the pandemic.

Nikkei reported that Robinsons Supermarket was acquiring the 40 percent stake of MInistop Co. Ltd. in Robinsons Convenience Stores Inc. (RCSI), which owns the franchise of the Ministop stores in the Philippines.

As of end-2020, Ministop Philippines had 472 convenience stores.

Systemwide sales reached P6.4 billion while merchandise sales amounted to P4.8b billion.

Same store sales dipped 31.8 percent last year as 60 percent of its store network are located in BPO and commercial districts which were adversely affected by lockdowns and mobility restrictions due to the pandemic.

Ministop Philippines competes with Paterno-led convenience store giant 7-Eleven, Sy family’s Alfamart, Family Mart and Lawson.

 

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