Emergent Cold Latin America (Emergent Cold LatAm) has raised $500m in equity commitments from new and existing investors to further expand its regional cold storage network.
Emergent Cold LatAm will use the capital to further grow its regional cold storage network via business acquisitions, greenfield projects and facility expansions. Additionally, the company plans to invest in technology and best practices to enhance operational standards and customer service.
The lead investors in the round were private equity firms Stonepeak Partners, Lineage and Losa Group.
Neal Rider, CEO of Emergent Cold LatAm, said: “This equity raise validates the strength of our investment thesis and demonstrates our investors’ confidence in the company’s business and management team. 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.”
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
He added: “The investment opportunity is substantially greater than our original assumptions. 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: FoodBev Media
Can’t stop reading? Read more
Fund Friday: Top fundraising news in private equity
Fund Friday: Top fundraising news in private equity KKR has closed its North America Fund XIV at...
OVS secures $330m financing as TIP-backed retailer strengthens balance sheet
OVS secures $330m financing as TIP-backed retailer strengthens balance sheet OVS has secured a...
Ares and Antares arrange $1bn private credit deal for Pritzker-backed PLZ
Ares and Antares arrange $1bn private credit deal for Pritzker-backed PLZ Ares and Antares have...