AC Logistics Holdings Corporation (AC Logistics) has signed an agreement to acquire a majority stake of up to 84 percent stake in Glacier Megafridge, Inc. (GMI), one of the leading players in the Philippine cold storage industry, as the Ayala-owned logistics arm steps up efforts to transform into a comprehensive logistics solutions provider.
This agreement, subject to closing conditions and regulatory approval, builds on the existing partnership between AC Logistics and GMI through GMAC Logitech Refrigeration Corporation, a joint venture that operates a cold storage facility in Cagayan de Oro and is currently expanding another facility in Davao. The disclosure to the Philippine Stock Exchange did not mention the value of the transaction.
“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,” said Erry Hardianto, President and CEO of AC Logistics.
Based on its disclosure, AC Logistics said the move to acquire GMI is in line with AC Logistics’ strategy to transform itself into a comprehensive logistics solutions provider, with the cold chain logistics segment among its key verticals.
Once finalized, the agreement with GMI will provide AC Logistics a strong platform to develop integrated cold chain services, addressing the significant supply-demand gap in the sector and contributing to efforts to reduce spoilage rates of agricultural products. Studies estimate that the spoilage rate in the Philippines is at 40 percent to 50 percent.
GMI is a major provider of integrated cold storage services in the Philippines, dedicated to overcoming logistical challenges and strengthening national food safety, security, and stability. Since it was established in 2005, GMI has combined advanced Japanese refrigeration technology with Filipino expertise to ensure the efficient and reliable storage and distribution of perishable goods nationwide.
Today, it operates 12 cold storage facilities across the Philippines with a total capacity of an estimated 75,000 pallet positions, delivering broad coverage and dependable service in key regions, helping sustain the country’s food supply chain and support economic growth.
“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,” said Archie Yan, GMI CEO.
The partnership with GMI highlights AC Logistics’ focus on expanding in high-growth, high- impact areas. By strengthening its cold storage capabilities, AC Logistics is poised to deliver customer-focused cold chain solutions that leverage technology, reliability, and responsiveness—creating long-term value for stakeholders and supporting the country’s economic development.
