AC Logistics Holdings Corp. has signed an agreement to acquire a majority stake in Glacier Megafridge, Inc. (GMI), strengthening its presence in cold chain logistics as it advances its shift toward becoming a full-service logistics solutions provider. The transaction is subject to customary closing conditions and regulatory approvals.
The agreement builds on the companies’ existing partnership through GMAC Logitech Refrigeration Corp., a joint venture that operates a cold storage facility in Cagayan de Oro and is expanding another site in Davao. The move signals AC Logistics’ intention to scale up its cold storage capabilities by integrating them more closely into its national logistics network.
“This agreement is a deliberate step in our transformation journey,” said Erry Hardianto, president and chief executive officer of AC Logistics. He said GMI will complement the group’s network of logistics nodes, allowing broader coverage and improved service for customers in key sectors.
Cold chain logistics is one of AC Logistics’ priority verticals, reflecting persistent gaps in the country’s food and perishables supply chain. Industry studies estimate that 40 to 50 percent of agricultural output in the Philippines is lost to spoilage, largely due to inadequate storage and temperature-controlled transport.
Expanding cold chain capacity could help reduce these losses while improving food safety and supply stability.
Once completed, the acquisition is expected to provide AC Logistics with a platform to develop more integrated cold chain services, combining storage, transport, and distribution. This could enhance efficiency across agricultural, food, and pharmaceutical supply chains, particularly in underserved regions.
Established in 2005, GMI is a major provider of cold storage services in the Philippines, using Japanese refrigeration technology alongside local operational expertise. The company operates 12 cold storage facilities nationwide with an estimated capacity of 75,000 pallet positions, offering coverage in key production and consumption centers.
“Partnering with AC Logistics opens new opportunities in GMI’s 20-year journey to scale and innovate,” said Archie Yan, GMI’s chief executive officer. He said the partnership would help meet growing demand for reliable cold chain solutions and address inefficiencies in the supply chain.
The deal highlights AC Logistics’ focus on expanding in segments that support food security and long-term economic growth, while building capabilities aligned with evolving customer needs.
