CONGLOMERATE Metro Pacific Investments Corp. may acquire as much as three local logistics companies this year, as it seeks to expand its footprint in the sector. Metro Pacific Chairman Manuel V. Pangilinan said his group has set its eyes on two or three logistics players in the Philippines up for acquisition.
“We still don’t know how many, but a number—maybe two or three are on the burner. But, most likely, at least one,” he replied, when asked for the logistics group’s acquisition plans for 2018.
He declined to disclose specifics, but said Metro Pacific is interested in companies that are just the right size.
“We have no specific budget because they range in sizes. We just hope that the company that we are to acquire is not too small, but we have no specific requirements,” Pangilinan noted.
Metro Pacific made its foray into the logistics sector in 2016 through Metropac Movers Inc.’s acquisition of Basic Logistics. It has been on the hunt for more deals since then. The company acquired last year Ace Logistics Inc. for P280 million. Ace is engaged in the business of logistics, including warehousing, courier express and parcel delivery, e-commerce delivery, trucking, freight forwarding, customs brokerage and domestic shipping. It also has a strong presence in predelivery inspection in the automotive industry.
As of August 2017, Metro Pacific has invested roughly P2 billion in its logistics operations in the Philippines.