The agreement is a deliberate step in AC Logistics’ transformation journey. Glacier Megafridge Inc. will complement and integrate into AC Logistics’ network of nodes, expanding its coverage to better serve its customers and strengthening its ability to deliver comprehensive logistics solutions to critical sectors.
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 fully integrating GMI, AC Logistics targets to widen its reach and offer more comprehensive logistics solutions.
A deliberate step
“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,” said AC Logistics president and CEO Erry Hardianto.
“It’s about keeping our customers in mind and continually evolving to serve them better,” he added.
Cold chain logistics — managing storage and transport of perishable goods — is a core growth area for AC Logistics.
Thus, the company said the acquisition provides a platform to tackle supply chain inefficiencies and reduce spoilage, estimated at 40 to 50 percent for agricultural products.
New opportunities
“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,” GMO CEO Archie Yan said.
“This collaboration positions us to serve customers better and contribute to the country’s food security and economic growth,” added.
Founded in 2005, GMI operates 12 cold storage facilities nationwide with around 75,000 pallet positions, combining Japanese refrigeration technology with Filipino expertise.
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