Furthering their existing relationship.
In a disclosure on Friday, January 23, Ayala Corporation’s logistics group, AC Logistics Holdings Coporation, announced that it has entered into an agreement with Glacier Megafridge, Inc. (GMI) for an acquisition of a majority stake.
GMI, established in 2005, is considered to be one of the leading players in the Philippine cold storage industry. It notably combined advanced Japanese refrigeration technology with Filipino expertise for the efficient and reliable storage and distribution of perishable goods nationwide.
Today, Glacier Megafridge operates 12 cold storage facilities across the Philippines.
It already has an existing tie-up with the conglomerate through the GMAC Logitech Refrigeration Corporation joint venture that operates a cold storage facility in Cagayan de Oro, with another one on the way in Davao.
The move to acquire GMI is also said to be “in line with AC Logistics’ strategy,” which is to transform itself into a “comprehensive logistics solutions provider,” with the cold chain logistics segment among its key verticals.
Erry Hardianto, President and CEO of AC Logistics, noted: “This agreement is a deliberate step in our transformation journey. GMI will complement and integrate into AC Logistics’ network of nodes, expanding our coverage to better serve our customers and strengthening our ability to deliver comprehensive logistics solutions to critical sectors.“
The company leader emphasized: “It’s about keeping our customers in mind and continually evolving to serve them better.”
Meanwhile, Archie Yan, GMI’s CEO said, “Partnering with AC Logistics opens new opportunities in GMI’s 20-year journey to scale and innovate. Together, we can address the growing demand for reliable cold chain solutions and help reduce inefficiencies in the supply chain.“
“This collaboration positions us to serve customers better and contribute to the country’s food security and economic growth,” he added.
Once finalized, the agreement with GMI will provide AC Logistics a strong platform to develop integrated cold chain services. Ultimately, that will address the significant supply-demand gap in the sector.
