Dennis Uy's Chelsea Logistics acquires another cargo firm

ABS-CBN News

Posted at Nov 09 2017 10:02 AM

Chelsea Logistics chairman Dennis Uy. Handout photo

MANILA - Businessman Dennis Uy's Chelsea Logistics said Thursday it acquired cargo forwarder Worklink Services Inc to boost its business.

Chelsea did not disclose the cost of the transaction, it's second in 2 months after Batangas Starlite Ferries in September.

Founded in 1994, Worklink provides courier, forwarding, trucking and logistics services, Chelsea said in a statement.

Chelsea shares were up 1.28 percent to P9.48 in early trading on Thursday.

Uy's Phoenix Petroleum last week announced it was acquiring the Philippine operations of Japanese convenience store chain FamilyMart.