Transformative acquisition substantially grows Brazil cold storage network and expands value proposition for customers.
Emergent Cold LatAm, the largest provider of temperature-controlled food storage and logistics solutions in Latin America, announced today the completion of its acquisition of Comfrio, a national cold storage platform in Brazil. With this transaction, the Company operates 37 facilities in 12 states, totaling 4 million cubic meters of capacity, 610,000 pallet positions and 3,500 employees.
Comfrio is a leading provider of integrated logistics solutions in Brazil with a focus on domestic distribution and last mile transportation. The company has an excellent reputation for customer service, as demonstrated by long-term relationships with Brazil’s largest food producers and distributors. Comfrio is also the market leader in the grain and seeds storage segment.
“Comfrio’s platform is an excellent complement to our own in Brazil,” said David Palfenier, President of Emergent Cold LatAm. “The combination of Comfrio’s domestic business with the global trade capabilities of Emergent Cold LatAm means we can now offer truly differentiated logistics solutions for customers. This transaction also expands our network coverage into important new markets like Minas Gerais and Ceará.”
“This is an exciting moment for both companies and our industry,” added Evandro Calanca, Managing Director of South Cone for Emergent Cold LatAm. “Comfrio’s entrepreneurial spirit and service focus align well with our own culture. Together we will deliver incredible value to our combined customers. I’m very pleased to welcome Comfrio’s team to Emergent Cold LatAm.”
44 Capital Finanças Corporativas acted as financial advisor to Emergent Cold LatAm. Bronstein, Zilberberg, Chueiri & Potenza Advogados and Lefosse Advogados acted as legal advisors to Emergent Cold LatAm.
