SM acquires stake in 2Go Group
SM Investments has entered the logistics business by acquiring a 34.5 per cent stake in supply-chain specialist 2Go Group.
Financial details have not been disclosed.
SM president Harley Sy says 2Go is the largest integrated supply-chain group in The Philippines covering shipping, freight forwarding, warehousing and express-delivery services. Its brands include 2Go Travel, 2Go Freight, 2Go Express and 2Go Logistics.
2Go has JV partnerships with such global supply-chain companies as Hansa Meyer Global, Hapag Lloyd and Kerry ATS Logistics.
SM has a range of interests including retail, property and financial services, with subsidiaries including SaveMore, SM Hypermarkets, SM Prime Holdings, SM Supermarkets, The SM Store and Waltermart Supermarket.