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Ministop exits PH

Republika

Japanese convenience store chain Ministop has announced it is packing up its bags in the Philippines and selling all its shares in the joint venture with Robinsons Corp.

It was learned that Robinsons (which is owned by the Gokongwei family) had agreed to acquire 100% stake in Ministop (Philippines) after its Japanese partner opted to divest from the country.


Informed sources said Ministop (Philippines), which operates around 460 branches in the country, will continue to carry the Ministop name for an unspecified period of time to avoid any business disruption until they are re-branded.


Ministop (Philippines) is the main competitor of 7-11 convenience stores which pioneered the business model in the 1980s.


According to Nikkei Asia, Ministop (Japan) also decided to unload its stake in Ministop (South Korea), which has some 2,600 outlets, due to increasing losses from intensifying competition in recent years, and to allow it to refocus its resources in the home market.

Photo: My Manila


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