Metro Pacific Investments Corp. plans to acquire two or three logistic companies to expand its footprint in the logistics industry.
MPIC chairman Manuel Pangilinan said the conglomerate would acquire two or three logistics companies in the coming years to expand its portfolio. “I think most likely at least one this year,” Pangilinan said.
The company earlier said it was in talks with the family of businessman Alberto Lina to acquire Air21 Express.
Air21, the former Philippine licensee of US-based logistics provider Federal Express, is now engaged in door-to-door courier delivery, cargo transportation, warehousing, crating, bulk shipments and mailing. Its contract with FedEx expired in 2012.
Air21 also operates the premium airport bus service under the brand name UBE Express.
MPIC ventured into the logistics and distribution business in May 2016 when it acquired the assets of mid-size corporate logistics provider Basic Logistics.
It then formed a new company called Metro Pacific Movers Inc. in joint venture with the shareholders of Basic Logistics to provide logistics, shipping, freight forwarding and e-commerce services.
MPIC’s subsidiary Premier Logistics Inc. signed a definitive agreement in January to acquire some of the assets and businesses of Ace Logistics worth P280 million.
Pangilinan said the new venture would complement MPIC’s existing businesses.
“The group as a whole moves quite a bit of goods and equipment throughout the country so this will help the group as well in facilitating how we operate. PLDT, Meralco, the tollways and to some extent, Maynilad and so forth,” Pangilinan earlier said.
Metro Pacific earlier said it was willing to invest P5 billion in the logistics business over the next five years, as other conglomerates ventured into the sector to take advantage of growing commerce and economy.
SM Investments Corp., the holding company of tycoon Henry Sy, acquired a 35-percent stake in the parent firm of 2Go Group Inc.
Conglomerate Ayala Corp. also entered into e-commerce space with the acquisition of a 43.3-percent interest in BF Jade E-Service Philippines Inc., the owner and operator of online fashion platform Zalora Philippines.