MANILA, Philippines — The Ayala Group, through its logistics arm AC Logistics Holdings Corp., is set to acquire a 60 percent interest in Air21 Holdings Inc., the holding company of businessman Alberto Lina, effectively expanding its footprint in the e-commerce and logistics space.
The MVP Group of tycoon Manuel V. Pangilinan, which earlier acquired a 12 percent stake in the companies under Air21 Holdings, will remain a minority shareholder in roughly five of the eight companies under the holding company, Lina told The STAR.
AC Logistics signed an investment agreement with Lina, Air21 Holdings Inc., Airfreight 2100 Inc., Air 2100 Inc., UFreight Phils. Inc., U-Ocean Inc., Cargohaus Inc., LGC Logistics Inc., Waste & Resources Management Inc. and Integrated Waste Management Inc.
Air21 Holdings will have a controlling interest in eight operating companies under the Air21 Group that are engaged in a broad range of logistics services that include express door-to-door service, international and domestic freight forwarding, warehousing and waste logistics management.
Ayala Corp. president and CEO Fernando Zobel de Ayala said the partnership with Air21 Holdings gives AC Logistics an end-to-end logistics platform that is capable of serving the diverse supply chain requirements of high-growth industries and complements Ayala’s initial foray in logistics through Entrego.
“We are delighted to have this opportunity to work with the Lina family,” Zobel said.
Lina said partnering with the Ayala Group is part of the transition of the business.
“Ayala’s businesses have proven leadership in their respective industries. The management expertise from the Ayala Group combined with our extensive experience in logistics will be transformative not just for our group but for the industry as well,” said Lina.
AC Logistics said the investment allows it to participate and service the needs of growing and evolving industries and ecosystems.
The company’s goal is to offer a full range of logistics services to more clients and to provide competitive services by leveraging on the strengths of companies in its portfolio. The pandemic disrupted the supply chain and underscored the need for a more robust and integrated logistics network across the country.
Warehousing facilities suited to the needs of critical industries coupled with investment in technologies that drive operational efficiencies are critical to deliver better services across the supply chain and to spur faster economic recovery.
AC Logistics president Rene Almendras said the decision to enter the logistics sector was a deliberate move on the part of the Ayala Group.
“The supply chain disruptions and lockdowns we faced in 2020 strengthened our conviction in investing in the logistics sector, which we started back in 2017. More than ever, logistics is a critical component of trade, particularly as we recover from the effects of the pandemic. We are very excited to improve and redefine practices with the use of new technology and with the needs of Filipinos at the core of our aspirations,” Almendras said.
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Article was originally published in Philippine Star and written by Iris Gonzales.
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