Emergent Cold Latin America (Emergent Cold LatAm) secured $500 million in equity commitments from both new and current investors, aiming to enhance and extend its regional cold storage network.
The funds acquired by Emergent Cold LatAm will be utilized to expand its regional cold storage network through business acquisitions, greenfield projects, and facility expansions. Furthermore, the company intends to invest in technology and adopt best practices to improve operational standards and customer service.
Primary investors in this funding round included 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.”
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.”