SSI Completes its Acquisition of a 99.4% Stake in Rustan Marketing Corp.

Stores Specialists, Inc. (SS), a 100% owned subsidiary of SSI Group, Inc. (SSI), acquired 99.4% of Rustan Marketing Corp. (RMK) on April 2, 2025. RMK is one of the country's largest wholesale distributors of renowned global brands with products ranging from fragrances, beauty, fashion, and footwear to luggage and home and lifestyle.

SSI’s acquisition of RMK, a wholesale distributor of international brands, will allow SSG to become a listed multi-channel distributor of premiere brands in the Philippines. The acquisition ensures that SSG is able to offer its brand partners distribution across a spectrum of retail channels, from specialty stores to wholesale distribution through third party department stores and supermarkets.

Rustan Marketing Corp. (RMK) is one of the country's largest wholesale distributors of renowned global brands with products ranging from fragrances, beauty, fashion, footwear, luggage, to home and lifestyle. RMK was established in 1964 and is key to the successful market entry of numerous brands and the subsequent expansion of their business into major cities nationwide.

Today, RMK is a fully integrated, multi-channel, wholesale distribution company, with a network of more than 1,300 wholesale and retail outlets and a presence on all major e-commerce platforms. RMK is the exclusive wholesale distributor of brands such as Samsonite, American Tourister, Tefal Cookware, Lacoste Fragrances, Maison Margiela Fragrances, Spanx, Nuxe Skincare, OPI Nail Polish and Nine West Footwear.

In 2024, RMK’s unaudited revenues, EBITDA and net income were at P1.085 billion, P111.2 million and PhP44.2 million, respectively.

RMK is owned by members of the Tantoco Family. The acquisition by SSI of RMK from the selling shareholders was reviewed and approved by SSG’s Related Party Transactions Committee in accordance with the Manual of Corporate Governance and Material Related Party Transactions Policy of SSG.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 5,884,814
Percentage to the total outstanding shares of the company subject of the transaction: 99.4%
Price per share: P39.44
 
The acquisition price of RMK is P232,080,773.00. Prior to the closing of the transaction, certain selling shareholders of RMK infused a total of P232,080,764.00 into RMK as part of the conditions precedent to closing of the transaction.
 
You may also read related article: SSI Group to Acquire Rustan Marketing Corp. for P232 Million