Emergent Cold Latin America announced the acquisition of the leading temperature-controlled storage facility in Paraguay from Frigorifico Modelo (Frimosa). The parties also continue to work towards the acquisition by Emergent Cold LatAm of Frimosa’s cold storage operations in Montevideo, Uruguay, which will occur later this year.
Emergent Cold LatAm’s newest location is a modern 8,400 pallet warehouse located in Asunción, the capital of Paraguay. This acquisition includes land for growth, and the Company is actively planning an expansion project in response to strong customer demand.
With this transaction, Emergent Cold LatAm now has cold storage and logistics operations in eleven countries, including active projects under construction. The Company continues to develop a pipeline of attractive investment opportunities, with the goal of transforming the food supply chain in Latin America.
“We are pleased to reach a successful outcome with Frimosa and expand our South Cone network,” said Evandro Calanca, Managing Director of Emergent Cold LatAm. “I also look forward to completing the purchase of Frimosa’s Uruguay cold storage operations later this year so that we can continue to grow our business and provide the most comprehensive logistics solutions for our customers.”
