Acquisition of two facilities strengthens the Company’s network in the Lima area and enhances service offerings.
Emergent Cold LatAm, one of the largest providers of temperature-controlled food storage and logistics solutions in Latin America, announced today the acquisition of Frialsa Peru, a leading food storage and distribution joint venture with Grupo Wiese located in the Lima region.
Frialsa operates two modern cold storage facilities in the Lima area. One is located in Callao nearby the city’s primary port terminal, and the other is south of the capital, in Lurin. Combined with Emergent Cold LatAm’s own recently opened warehouse within the DP World container depot in Callao, the Company now operates more than 260,000 cubic meters of storage capacity and approximately 33,000 pallet positions in one of the most populous urban areas in Latin America, and over 40,000 pallets in Peru considering its existing Piura site to serve northern Peru and the Port of Paita. The acquisition of Frialsa Peru also adds blast freezing and transportation capabilities to Emergent Cold LatAm’s local service offerings.
As part of this transaction, Lars Reyes – previously General Manager at Frialsa – joins Emergent Cold LatAm as its new Country Manager for Peru. Lars and his team enjoy strong relationships with customers, driven by a focus on service quality and the strategic location of Frialsa’s facilities.
“Peru is an important part of our regional investment strategy,” said David Palfenier, President of Emergent Cold LatAm. “We always viewed Frialsa’s Peru operations as an ideal fit for our network due to the quality of its facilities, the complementary customer base and the strong management team led by Lars. I’m very pleased to welcome Lars and the Frialsa Peru team to Emergent Cold LatAm. I also want to thank Gonzalo de la Puente and Grupo Wiese for their invaluable contributions in making this transaction a success.”
“This acquisition substantially improves our network coverage and offerings in Lima,” added Joaquin del Campo, Managing Director for the Pacific region. “With this additional storage capacity and service capabilities, we are now uniquely positioned to support the logistics needs of our customers.”
44 Capital Finanças Corporativas acted as financial advisor and Rebaza, Alcázar & De Las Cases acted as legal advisor to Emergent LatAm.
