AC Logistics Holdings Corp., the logistics arm of the Ayala Group, is acquiring a majority stake in Glacier Megafridge, Inc. (GMI) to expand its cold storage network.

In a stock exchange report on Monday, the deal builds on an existing partnership through GMAC Logitech Refrigeration Corporation, which operates a facility in Cagayan de Oro and is expanding another in Davao.

By integrating GMI, AC Logistics aims to widen its reach and offer more comprehensive logistics solutions.

“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. It’s about keeping our customers in mind and continually evolving to serve them better,” AC Logistics President and Chief Executive Officer Erry Hardianto said.

Cold chain logistics, which involves the storage and transport of perishable goods, is a key growth area for AC Logistics. The company said the acquisition provides a platform to address supply chain inefficiencies and reduce spoilage, which is estimated at 40 to 50 percent for agricultural products.

“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,” GMI CEO Archie Yan said.

Founded in 2005, GMI operates 12 cold storage facilities nationwide with approximately 75,000 pallet positions, combining Japanese refrigeration technology with Filipino expertise.