Strategic acquisition of market leader in Panama will be anchor investment in Central America region.
SÃO PAULO–(BUSINESS WIRE)–Emergent Cold Latin America (Emergent LatAm), Latin America’s newest temperature-controlled warehousing and logistics provider, today announced the acquisition of Panama-based Galores Group. This is Emergent LatAm’s second acquisition and first investment in the Central America region, which immediately establishes the company as a market leader in this strategic geography.
Founded in 2011, Galores is the largest 3PL cold storage facility in Central America and the Caribbean. Based in Panama City near two of the region’s largest volume ports, Galores operates a best-in-class logistics complex with a warehouse capacity of 21,000 pallets, with additional land available for expansion. The business offers a wide range of value-added services including bonded storage, blast freezing, cross-docking and order picking. In addition, Galores owns a fleet of transportation assets to handle both port drayage and last mile distribution for its customers.
“We are thrilled to welcome Galores Group to our growing Latin American network,” said Neal Rider, CEO of Emergent LatAm. “Panama is an important strategic location for the global food trade, which makes it key to our regional investment strategy. Galores is the ideal anchor asset to grow our Central America operations. In addition, our relationship with Lineage Logistics allows us to broaden the network connectivity between our companies and create additional supply chain efficiencies for our customers.”
Emergent LatAm recently announced the completion of a $450MM capital raise, led by Lineage Logistics, Stonepeak Infrastructure Partners LP and D1 Capital Partners. The company is investing in existing leading cold storage operators and new greenfield projects throughout Latin America to expand its footprint of modern cold storage facilities and consistently bring the highest quality service to customers across the entire region.
44 Capital Finanças Corporativas acted as financial advisor and Arias, Fábrega & Fábrega acted as legal advisor to Emergent LatAm.
About Emergent Cold Latin America
Emergent Cold Latin America (www.emergentcoldlatam.com) is building the highest quality cold storage network to provide integrated, end-to-end temperature-controlled logistics solutions to customers throughout Latin America. The Company was founded to fill a need for modern cold-chain solutions within the market and to serve the increasing demand from domestic and global trade customers.
About Galores Group
Galores Group is an asset-based company composed of Brazilian investors focused on the warehousing and logistics field. Galores Cold Storage opened the largest cold storage facility in Central America and the Caribbean with a capacity of 21,000 pallet positions. The group recently added trucking services and is now the largest food industry 3PL provider in Panama. More information is available at http://www.galorescold.com/.
Contacts
Emergent Cold Latin America
Greg Mitchell
+1 (601) 479-9162
greg.mitchell@emergentcold.com
