AyalaLand Logistics Holdings Corp., the industrial estate development arm of Ayala Land Inc., said Wednesday it acquired a cold storage facility and the land where it stands in Laguna province for P408.8 million.
ALLHC said it purchased Technofreeze, which operates cold storage facility at Laguna Technopark serving various companies with diverse products such as processed meat, dairy, ice cream, and adhesives.
The facility includes 17 cold storage rooms with temperature of up to -25 degree Celsius, with 4,000 pallet positions, three processing rooms with an adjustable temperature of 0 to 25 degree Celsius, four dry storage rooms with 1,600 pallet positions, two blast freezers with a combined capacity of 25 tons and several office spaces.
It is accredited by the Department of Agriculture to cater to products like fruits and vegetables, meat, fisheries and aquatic products.
ALLHC said it would assume ownership of the operating facility of Technofreeze and this would be under ALLHC’s cold storage brand ALogis Artico.
ALogis Artico Biñan is located within the 471-hectare Laguna Technopark, one of ALLHC’s premier industrial estates spanning the cities of Sta. Rosa and Biñan.
The company said the acquisition of the cold facility would complement its warehouse leasing business.
“The transaction supports ALLHC’s vision to be the leading real estate logistics and industrial parks developer and operator in the Philippines,” the company said.
ALLHC has four industrial parks in Pampanga, Laguindingan in Misamis Oriental, Cavite and Laguna. It also operates various logistics and office facilities.
The company in January broke ground for the second phase of its warehouse facilities in Cavite Technopark.
ALLHC reported a net income of P702 million in 2020, up 10 percent from P641 million in 2019, driven by sales of industrial lots, stable warehouse and office leasing operations and sale of non-core assets.
The share price of ALLHC climbed 8.2 percent Wednesday to close at P3.29.