Emerging cold Latin America enters Guatemala with the acquisition of Bodegas Frias

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The acquisition of the country’s leading cold storage operator adds a key market to the ambitious Central America strategy.

SÃO PAULO, Brazil–(BUSINESS WIRE)–Emergent Cold Latin America (Emergent Cold LatAm), the fastest growing cold storage and logistics services provider in Latin America, today announced the acquisition of Bodegas Frias, the largest third-party cold storage operator service provider in Guatemala. This acquisition marks Emergent Cold LatAm’s entry into Guatemala – Central America’s largest economy with an important role in global food trade. It also represents the first of several investments planned by Emergent Cold LatAm in this important strategic market.

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Emergent Cold Latin America acquires Bodegas Frias (Photo: Business Wire)

Founded in 2006, Bodegas Frias is the undisputed market leader in Guatemala. Bodegas operates three facilities in Palín, Villa Nueva and Xela (Quetzaltenango), with a total capacity of nearly 20,000 pallet locations and additional land for expansion. The facilities are strategically located in the main metropolitan cities of Guatemala. Bodegas Frias offers complete storage and logistics solutions, including handling and transport.

This announcement is the latest in a series of acquisitions by Emergent Cold LatAm in the region. Last month, the company announced its first investment in Colombia with the acquisition of Frigometro Metropolitano, and quickly followed with the acquisition of Polo Logístico de Frio in Uruguay. With the addition of Bodegas Frias, Emergent Cold LatAm now operates in a total of nine countries, including new construction underway in the Dominican Republic, Ecuador and Peru.

“We are thrilled to welcome the Bodegas Frias team to our growing regional cold storage network,” said Neal Rider, CEO of Emergent Cold LatAm. “Guatemala is an important part of our investment strategy in Central America for its growing domestic consumption and role in global trade, and we are particularly pleased to partner with the country’s leading operator. I would like to congratulate the management team of Bodegas Frias for their great success. I would also like to thank our partners at Losa Group, who provided valuable support and guidance throughout this process. »

“We see huge opportunities in Guatemala,” said David Palfenier, president of Emergent Cold LatAm. “There is strong customer demand for follow-on investments that will both expand Guatemala’s growing distribution network and improve connectivity with the ports of Puerto Barrios and Santo Tomás. Bodegas Frias is the perfect anchor investment for our ambitious regional plans.

44 Capital Finanças Corporativas acted as financial advisor and BLP acted as legal advisor to Emergent Cold LatAm.

About Emergent Cold LatAm:

Emergent Cold Latin America (www.emergentcold.com) is building a world-class, end-to-end refrigerated storage chain to provide integrated chilled food logistics solutions to customers throughout Latin America. The company was founded to meet the needs of modern cold chain solutions and growing demand from domestic and foreign trade customers.

Communications item

Bruna Valentine – [email protected] – (55 11) 99608-2700

Daniel dos Santos – [email protected] – (55 11) 99868-6904

Fabienne Macedo- [email protected] – (55 11) 98505-5282

Emerging Cold Latin America

Raphael Rocha – [email protected] – +507 6747-8153

Source: Emergent Cold Latin America