CONSUMERS and businesses across the Visayas can expect improved fuel accessibility as Cebu-based listed firm Top Line Business Development Corp. embarks on a major expansion of its Light Fuels retail network through the P925-million acquisition of fuel assets, including 38 service stations, a two-million-liter depot and 15 tanker trucks.
The move significantly boosts the company’s retail presence in the region and enhances fuel distribution capacity in response to growing demand. The acquired stations are located in Cebu, Leyte, Negros Oriental and Siquijor — marking Top Line’s first foray beyond Cebu Province. The new depot in San Jose, Negros Oriental will serve as a distribution hub, supporting logistics to retail sites across Negros and Siquijor.
In a disclosure to the Philippine Stock Exchange, Tuesday, July 8, 2025, the company said the acquisition from Total Oil & Gas Resources Inc. (TOGRI) and Ballston Metro Corp. (BMC) is part of a broader push to scale operations across key Visayas markets. Top Line allocated P400 million of the P733 million it raised from its April 2025 initial public offering for service station expansion.
“As part of our flexible strategy for expansion, we explored opportunistic acquisitions of retail fuel stations to fast-track the growth of our Light Fuels brand. This acquisition supports our broader long-term growth objectives by enabling faster market entry and operational scalability,” said Eugene Erik Lim, chairman, president and chief executive officer.
The deal also strengthens the company’s supply chain infrastructure, bringing its fleet to 37 tanker trucks. The combined logistics capacity will support both retail and commercial operations while bolstering fuel availability in emerging economic zones.
“With the new Negros Oriental depot, additional depot space recently secured in our Mandaue terminal, and our expanded tanker fleet, we are well-positioned for rapid expansion. Our systems are in place for prudent inventory management and efficient fuel deliveries to our new stations as we grow our footprint,” said Brigitte Carmel Lim, senior vice president and chief operating officer.
Top Line expects the newly acquired stations to contribute an additional 36.5 million liters in annual liquid fuel sales, expanding on the 72.45 million liters sold in 2024.
“With the continued consumption and economic growth in the Visayas, this strategic acquisition strengthens our retail fuel revenue stream while complementing our robust commercial fuel trade revenues,” Lim added.
The acquisition marks a key milestone in the company’s growth roadmap as it scales its downstream fuel business through both organic and strategic moves. / KOC