ABOITIZ One Inc. (Aone), also known as 2GO Express, the logistics arm of Aboitiz Transport Systems Corp., has completed the acquisition of ScanAsia Overseas Inc. (ScanAsia).

In a disclosure, Aone said it purchased from Carsten Pederson, chief executive officer of ScanAsia, 100 percent of the issued and outstanding capital stock of ScanAsia.

The stock consisted of 3.97 million shares at P1 par value. The purchase price was $8.4 million.

ScanAsia is one of the leading importers and distributors of fine food products and beverages in the Philippines, representing over 16 principals and carrying 36 renowned international brands. “Somebody will take over now with more muscle, more power and more ideas. I am sure ScanAsia will grow much faster now,” Pederson said in the statement.

Sabin Aboitiz, president and CEO of Aone, said the acquisition is an opportunity for Aone to grow.

“We want to present our entrance into this business, aside from building a supply chain, as an opportunity for growth—growth for our principals, our customers, but, more important, for us as a team,” he said.

ScanAsia is strong in both bringing high-value international food products into the country and in control of a domestic network. Aboitiz said Aone is confident the firm will be able to provide the right solutions to the industries it serves.

“Through this partnership, 2GO and ScanAsia will now bring the world’s finest food to the vast regions [of] the country in the most efficient way possible,” Aboitiz noted.

That’s one way of strengthening Aone’s mission to help the country and its customers gain in the competitive advantage by lowering overall supply­–chain cost by eliminating processes, layers and middlemen, where there is no value added, he added.

Aone completes acquisition of ScanAsia Overseas

ABOITIZ One Inc. (Aone), also known as 2GO Express, the logistics arm of Aboitiz Transport Systems Corp., has completed the acquisition of ScanAsia Overseas Inc. (ScanAsia).

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