Top Line Business Development Corp. is rapidly expanding its fuel retail footprint across the Visayas region with a major acquisition of 38 retail fuel stations, a two-million-liter depot in Negros Oriental, and 15 tanker trucks. The assets were acquired from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corporation (BMC) for a total investment of approximately PHP 925 million.

This move significantly boosts the rollout of Top Line’s Light Fuels brand, with PHP 400 million of the investment sourced from the company’s April IPO proceeds. Top Line had raised PHP 733 million during its April 8 listing.

“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 CEO.

The acquisition marks Top Line’s entry beyond Cebu, with new sites in Leyte, Siquijor, and Negros Oriental. The depot in San Jose, Negros Oriental, will serve as a distribution hub for the region, complementing recently secured additional depot space in Mandaue and expanding the company’s existing fleet of 22 trucks with 15 new tankers.

“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 projects an annual boost of at least 36.5 million liters in liquid fuel sales from the new stations, on top of the 72.45 million liters sold last year.

“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,” Mr. Lim added.

How do you see this move shaping competition and infrastructure in the Visayas fuel market? Share your insights with us.

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