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RSA brings ‘Treats’ store back to Petron in P64M deal with San Miguel Food

Bilyonaryo Ramon S. Ang is keen to add to Petron’s bottomline by taking back control of its convenience store chain.

Petron forked out P64 million to buy back “Treats” from San Miguel Foods which took over the convenience store chain and rebranded it to “San Mig Food Avenue” in 2011.

The deal was consummated, which covered fixed assets in the stores, inventory, and intangible assets such as contracts and the Treats trademarks – on 1 March 2020.

“The Treats acquisition will optimize the synergies between the operation of the Petron service stations and the Treats outlets located in the service stations and result in operational efficiencies and savings, unified customer marketing programs, maximized exposure of the Treats brand, and the provision of holistic business consulting to dealers on their businesses within the service station,” said Petron in a disclosure.

Petron has Treats stores in roughly half of its 2,435 retail service stations in the country.

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