FamilyMart Philippines chain up for auction
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FamilyMart Philippines convenience-store chain, partly owned by the Ayala and Tantoco groups, is up for auction.
With about 70 stores, the Japanese chain has been offered to prospective investors in the past few months.
Ayala Land and the Rustan’s group, via their equally owned JV firm Sial CVS Retailers, in 2012 signed a deal with FamilyMart and Itochu Corporation to develop and run FamilyMart convenience stores in the Philippines.
FamilyMart has been closing unprofitable stores over the past 12 months.
In the convenience store market in past six years, new brands have been challenging 7-Eleven and MiniStop, respectively run by Philippine Seven Corporation (PSC) and Robinsons Retail Holdings.
Aside from FamilyMart, the Puregold group also brought Japan’s Lawson into the market while the SM group introduced Indonesian brand Alfamart. Meanwhile, real-estate magnate Manuel Villar has also built his own convenience-store network, All Day.
To date, the two original brands still lead the market, with 7-Eleven surpassing 2000 outlets while Mini-Stop has at least 500 stores.
Questions & Answers
Q.Which companies jointly own the FamilyMart Philippines chain that is now up for auction?
Which companies jointly own the FamilyMart Philippines chain that is now up for auction?
The FamilyMart Philippines chain is partly owned by the Ayala and Tantoco groups. Their joint venture firm, Sial CVS Retailers, signed a deal in 2012 with FamilyMart and Itochu Corporation to operate the stores.
Q.Why might FamilyMart Philippines be looking for new investors for its chain?
Why might FamilyMart Philippines be looking for new investors for its chain?
FamilyMart has been closing unprofitable stores over the past 12 months. The convenience store market has seen many new brands challenging established leaders, which could have affected its performance.
Q.Which brands currently lead the convenience store market in the Philippines, and how many stores do they have?
Which brands currently lead the convenience store market in the Philippines, and how many stores do they have?
The two original brands, 7-Eleven and Mini-Stop, still lead the market. 7-Eleven has surpassed 2000 outlets, while Mini-Stop operates at least 500 stores across the Philippines.
Q.What other international convenience store brands have entered the Philippine market recently?
What other international convenience store brands have entered the Philippine market recently?
The Puregold group introduced Japan's Lawson, while the SM group brought in the Indonesian brand Alfamart. Also, Manuel Villar has developed his own network, All Day.
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