Frozen meat trader North Star Meat Merchants Inc. has expanded into the last mile logistics business after it has shelved its P4.5 billion initial public offer (IPO) plans.
Anthony Ng, chief executive officer of North Star, said the company is now providing logistics services tp SM’s Alfamart as it maximizes the use of its cold storage facilities and distribution capacity.
Ng said North Star has a nationwide distribution network from Aparri to Zambonga, supplying goods to its biggest customer for meat products – SM Retail Food Group which includes SM Supermarket, SM Hypermarket, and SM Save More grocery stores.
Ng said North Star started servicing Alfamart for their last-mile logistics needs after the expiration of the retailer’s contract with its existing service provider.
Initially, North Star will be servicing all of Alfamart’s stores north of Metro Manila as the retailer still has existing contracts with its logistics providers for other parts of the country.
Alfamart has a total of 1,500 stores nationwide with a large concentration of stores in Cavite.
North Star shelved its IPO plans in January last year citing “increased market volatility.” – Ruelle Castro
