Ayala’s logistics arm to acquire control of cold storage operator Glacier Megafride

AC Logistics Holdings Corp., the logistics arm of the Ayala Group, on Monday said it has signed an agreement to acquire a majority stake in Glacier Megafridge Inc. which operates a cold storage facility in Cagayan de Oro, and is expanding into Davao.

AC Logistics did not elaborate on the specifics of the agreement such as the percentage, cost, and timeline, but said the move is in line with its target to shift into a comprehensive logistics solutions provider with cold chain logistics among its key verticals.

With the agreement, GMI — which operates 12 cold storage facilities in the country with 74,000 pallet positions —  will provide AC the platform to develop integrated cold chain services.

“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,” AC Logistics president and chief executive officer Erry Hardianto said.

“It’s about keeping our customers in mind and continually evolving to serve them better,” he added.

AC Logistics is involved in four key verticals — cold chain, international freight forwarding, contract logistics and national distribution, and project cargo.

GMI, meanwhile, was established in 2005, using Japanese refrigeration technology with Filipino expertise.

“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 chief executive officer Archie Yan said. —AOL, GMA Integrated News