NewCold has signed an agreement to acquire Pacaro Srl and Pacaro Logistica Srl. This is the first strategic acquisition for our company in Italy. The Pacaro facilities in the center of Italy, near Rome, complement NewCold’s facilities to be built near Milan in the north to strengthen its Italian footprint.
Bram Hage, Founder and Chief Executive Officer of NewCold said: “Pacaro has an impressive reputation and offered a very attractive investment opportunity. The acquisition is consistent with our growth strategy in the region. Together, both companies bring deep experience and capability to the industry. This opportunity will enhance our ability to serve current and new customers while strengthening our global network.”
Roberto Alessio, Founder and Chief Executive Officer of Pacaro said: “I am delighted that our company joins the NewCold family to share its global advanced logistic network with our Italian customers. Since 1984 Pacaro has been the Italian leader of temperature-controlled logistics with highly innovative storage systems. We have a very proud history and today we are pleased to entrust our legacy to NewCold, knowing that this acquisition will provide enhanced opportunities for our customers and employees.”
Following closing of this transaction, the combined NewCold network will feature over 815,000 pallet places of temperature-controlled capacity across nine facilities in six countries, with a global footprint that spans North America, Europe and Australia.