Singapore-based Archipelago Capital Partners (Archipelago), through its investment entity Trident Investments Holdings, has acquired 31.73 percent in leading Philippine logistics firm 2GO Group Inc. (2GO), cementing one of its largest investments in the region.
The investment, equivalent to 781.12 million shares and valued at P6.6 billion, follows SM Investment Corp.’s (SM Investments) acquisition in 2GO, which increased its stake to 52.85 percent from 30.53 percent, making 2GO a subsidiary of SM Investments.
As a result of changes in the shareholding structure of 2GO, the Board has named the following as new directors: Stephen Ly, Chan Kiat and Sam Ang, representing Archipelago.
“We welcome the investment of Archipelago in 2GO. Archipelago will bring to 2GO its broad regional knowledge and best practices in the logistics industry,” said Frederic DyBuncio, 2GO chairman, president and CEO.
“We see vast potential in the Philippine logistics market and believe that 2GO is uniquely positioned to realize the opportunities here. We are very excited and proud to become a part of 2GO. We look forward to working closely with 2GO and SM Investments to accelerate initiatives to enable 2GO to become the preferred integrated logistics provider in the Philippines” said Jovasky Pang, Archipelago CEO.
2GO is the Philippines’ leading integrated transportation and logistics solutions provider with five core business units: 2GO Sea Solutions, 2GO Special Containers, 2GO Logistics, 2GO Express, and 2GO Distribution.
Backed by 148 years of expertise in transportation and logistics, 2GO continues to provide the Philippine market with the best travel experiences, efficient movement of products and cargoes and has helped spur business growth in domestic and international markets.
Archipelago is a private equity investment firm which invests in promising small to mid-market companies in Southeast Asia, focusing on consumer goods & services, financial services as well as industrial & logistics.