Chiongbian family to buy back full ownership of FAST Logistics Group

CEBU CITY, Philippines – The Chiongbian family is set to reclaim complete ownership of FAST Logistics Group after agreeing to acquire the 40 percent stake currently held by a subsidiary of CVC Capital Partners Asia Pacific IV, one of Asia’s largest private equity firms.

The family, which already holds a 60 percent controlling interest in the company, is making the purchase through a designated acquisition vehicle.

Financial terms were not disclosed.

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The deal remains subject to regulatory approval and other customary closing conditions.

Once completed, the transaction will consolidate full ownership of one of the Philippines’ biggest third-party logistics (3PL) and integrated supply chain providers back under the founding family.

William Chiongbian II, Group President of FAST, credited the private equity partnership for helping accelerate the company’s growth over the past several years.

“We are grateful for the partnership and support provided by CVC over the past several years. Their contribution helped accelerate our growth, strengthen our organization, and position FAST for its next chapter,” he said.

Likewise, the family remains committed to investing in people, customers, and capabilities as it pursues sustainable long-term growth under full family ownership, he added.

CVC’s Philippine Country Head and Senior Managing Director Brice Cu echoed the sentiment, saying the company had further strengthened its position as a leading logistics, distribution, and supply chain platform during their six-year partnership.

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“The Company’s success reflects the quality of its people, the strength of its culture and the vision of its leadership team,” Cu said, wishing the Chiongbian family continued success.

FAST, founded more than five decades ago, provides end-to-end logistics, transportation, warehousing, distribution, and supply chain solutions to businesses across the country.

The company serves a client base that includes both multinational corporations and domestic enterprises.

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During CVC’s involvement, FAST expanded its nationwide capabilities, improved operational efficiencies, invested in technology and warehousing infrastructure, and deepened ties with major customers.

The buyback signals the family’s confidence in the Philippine logistics sector’s long-term growth trajectory, driven by economic development, rising domestic consumption, and growing demand for supply chain modernization.

FAST said its operations, customer commitments, and management focus will continue without disruption as the transaction moves toward completion.

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