Frabelle Fishing Corporation has formed a Philippines-based joint venture with Johnsonville while Singapore-based logistics company Ninja Van announced that it would invest about $4 million in new sorting hubs and trucks in the Philippines.
Frabelle Fishing inks Philippines-based JV with Johnsonville
The Philippines-based Frabelle Fishing Corporation (FFC) has formed a joint venture company with the US-based sausage producer Johnsonville LLC, according to a press statement.
The two companies have received an approval from the Philippines Competition Commission for the formation of JV, which will be called Fabelle Corporation (FBC). Johnsonville is said to hold 51% stake in FBC.
Singapore-based advisory firm Pickering Pacific advised Johnsonville on this deal.
FBC house the existing meat brands of FFC and manage Johnsonville’s business in the country. FBC will focus on the production, distribution and sales of chilled and frozen meats, mainly sausages, tocinos, burgers, tapas, longganisa and hot dogs.
Ninja Van to invest $4m to speed up deliveries in the Philippines
Singapore-based logistics company Ninja Van has announced that it would invest about $4 million in new sorting hubs and trucks in the Philippines by the fourth quarter of 2019 to speed up deliveries and better serve small businesses, according to reports.
The company said, in a statement, it will establish 50 sorting hubs and acquire 80 trucks for its local operations.
Ninja Van, which started operating in the Philippines in 2016, currently has 170 sorting hubs and a fleet of more than 8,000 riders running its express logistics service. It serves e-commerce giants Lazada and Shopee at present.
Recently, Grab made an undisclosed investment in Ninja Van as part of a strategic partnership that will expand its logistics service in the region.
Founded in 2014, Ninja Van started operations in Singapore and currently covers over 450 cities in six countries regionally – Singapore, Malaysia, Thailand, Philippines, Vietnam and Indonesia.
Ninja Van last raised an undisclosed Series C round in January 2018, which was reported to be in excess of $85 million.