SSI Group to Acquire Rustan Marketing Corp. for P232 Million

The Board of Directors of SSI Group, Inc. (SSG) approved today the acquisition by its wholly-owned subsidiary, Stores Specialists, Inc. (SSI), of 99.44% of Rustan Marketing Corp. (RMK).

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 PhP1.085 billion, PhP111.2 million and PhP44.2 million, respectively.

SSI’s acquisition of RMK 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. 

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 acquisition price of RMK is PhP232,080,773.00. Prior to the closing of the transaction, certain selling shareholders of RMK shall infuse a total of PhP232,080,764.00 into RMK as part of the conditions precedent to closing of the transaction.