Ayala logistics unit completes 40% stake sale to Danish investor

A.P. MOLLER Capital, an infrastructure fund manager affiliated with Denmark’s A.P. Moller Holding, the parent of shipping and logistics company A.P. Moller-Maersk, has completed its acquisition of a 40% stake in AC Logistics Holdings Corp., the logistics arm of Ayala Corp.

In a joint statement dated July 7, the companies said the investment was completed through EMIF II Holding III B.V. after the fulfillment of all closing conditions, including merger control clearances.

The companies said the partnership is expected to support AC Logistics’ expansion by increasing its nationwide capacity, broadening its service offerings, strengthening operations, and adopting international operating practices.

Founded in 2021, AC Logistics provides supply chain services, including cold chain management, freight forwarding, national distribution, and contract logistics.

The company operates a nationwide network of distribution centers and maintains a fleet of temperature-controlled trucks and other transport assets, supported by an agent network.

“This partnership reflects Ayala’s long-standing strategy of working with world-class companies to scale our businesses, strengthen execution, and serve customers better,” Ayala President and Chief Executive Officer Cezar P. Consing said.

A.P. Moller Capital Senior Partner Lars Reno Jakobsen said the firm sees growing demand for more integrated and resilient supply chains in the Philippines and expects the partnership to support AC Logistics’ long-term expansion.

Earlier this year, the Philippine Competition Commission (PCC) approved the transaction between Ayala and EMIF II Holding III B.V., saying it was unlikely to substantially lessen competition in the freight and logistics sector.

The PCC said the domestic and international freight forwarding markets remain highly fragmented, with customers typically engaging multiple service providers.

Separately, AC Logistics earlier completed its acquisition of an 84% stake in Glacier Megafridge, Inc. (GMI), expanding its cold chain business.

The acquisition builds on the existing partnership between AC Logistics and GMI through their joint venture, GMAC Logitech Refrigeration Corp., which operates a cold storage facility in Cagayan de Oro and is expanding another in Davao.

AC Logistics said it plans to integrate GMI into its network, initially focusing on aligning operations and capturing operational synergies.

“The completion of these transactions marks a transformative step in building a leading integrated logistics platform in the Philippines,” AC Logistics President and Chief Executive Officer Erry Hardianto said.

“Together with A.P. Moller Capital and GMI, we are augmenting our scale, enhancing our capabilities, and expanding our reach across the country. These enable us to provide customers with seamless access to a more comprehensive and interconnected network of logistics nodes across the Philippines,” he added.

On Wednesday, shares of Ayala Corp. fell 0.37%, or P1.80, to close at P485. — Alexandria Grace C. Magno