March 4, 2024
Louise-Brett-Terrapay-independent-Director

Emergent Cold LatAm secures USD 500 Million for network expansion and growth

Emergent-Cold-LatAm-Photo-Business-Wire
Emergent-Cold-LatAm-Photo-Business-Wire

Emergent Cold Latin America (“Emergent Cold LatAm” or the “Company”), the region’s largest provider of refrigerated storage and logistics solutions, announced recently that it has secured US$ 500 million in equity commitments from new and existing investors. The lead investor in the round were Stonepeak Partners LP, Lineage and Losa Group.

“This equity raise validates the strength of our investment thesis and demonstrates our investors’ confidence in the Company’s business and management team,” said Neal Rider, CEO of Emergent Cold LatAm. “We proudly advance our mission to reshape the future of food chain logistics across Latin America for the benefit of our customers, employees and the communities where we invest.”

With this new capital, Emergent Cold LatAm will continue expanding its regional cold storage network through its deep investment pipeline across business acquisitions, greenfield projects and expansions of existing facilities. Equally important, the Company plans to use some of this capital to invest in technology and best practices to ensure the highest levels of operational standards and customer service.

To date, Emergent Cold LatAm has completed eighteen acquisitions and two new construction projects, with an additional nine greenfields in active development. The Company now operates more than 70 warehouses totaling more than 5.4 million cubic meters of storage capacity (including projects under construction) in 11 countries across Latin America. The latest funding brings total equity raised since July 2021 to US$ 1.2 billion.

“The investment opportunity is substantially greater than our original assumptions,” added Rider. “Latin America is an essential part of the global food trade, and I believe this trend will grow as the region benefits from more modern logistics infrastructure and focus on food safety. We expect to continue capital deployment at current levels for the foreseeable future with a good balance between strategic acquisitions and new builds.”

Source

(Visited 35 times, 1 visits today)

Share:

Facebook
Twitter
WhatsApp
LinkedIn

Comments are closed.

Social Media

Most Popular

LRMF missile
Aerojet Rocketdyne joins Lockheed Martin to develop LRMF missile
Maria Jackson
BOURNEWOOD HEALTH SYSTEMS onboards Maria Jackson as CEO
Tahini located in the vibrant One Central.
GRIT Hospitality launches Tahini in Dubai
3D-Systems-EXT-1070-Titan-Pellet-printer
3D Systems and SWANY partnership to promote large-format pellet extrusion 3D printing

Related Posts