The transaction, subject to regulatory approval and closing conditions, expands AC Logistics’ footprint in cold chain logistics following efforts to narrow losses and streamline operations.
Scaling up
The deal builds on AC Logistics’ existing partnership with Glacier Megafridge through GMAC Logitech Refrigeration Corp., which operates a facility in Cagayan de Oro and is expanding in Davao.
Glacier Megafridge runs 12 cold storage facilities nationwide with an estimated 75,000 pallet positions, giving AC Logistics immediate scale in temperature-controlled logistics.
The acquisition targets a sector with a large supply gap, where studies estimate post-harvest spoilage rates at 40 percent to 50 percent, AC Logistics said in a statement on Monday.
Capital backing in place
The move follows the Philippine Competition Commission’s approval of A.P. Moller Capital’s planned acquisition of up to 40 percent of AC Logistics, clearing a key regulatory hurdle.
In recent years, AC Logistics shut down and exited smaller, loss-making standalone logistics businesses, including last-mile delivery units, as part of a broader cleanup aimed at narrowing losses and simplifying operations.
—Edited by Miguel R. Camus
