São Paulo, Brazil: Emergent Cold Latin America, a fast-growing refrigerated storage and logistics service provider in Latin America, is to acquire the cold storage operations of Frigorifico Modelo (Frimosa), an agro-industrial and logistics company based in Montevideo, Uruguay.
As part of the deal, Emergent Cold LatAm will acquire Frimosa’s main site in Polo Oeste, which has a warehouse with 22,000 pallets of cold storage, a separate bonded warehouse and land. Emergent Cold LatAm will also acquire a newly constructed 8,400-pallet warehouse located in Asunción, Paraguay.
Uruguay is recognized as an important logistics and financial hub in South America. Paraguay also plays an important role in the world food trade.
The acquisition of Frimosa’s cold storage operations will expand Emergent Cold LatAm’s operations in Uruguay. In May 2022, the company completed the acquisition of Montevideo-based Polo Logístico de Frio.
“We believe that the addition of Paraguay and the expansion of our footprint in Uruguay will strengthen our portfolio of services in the region, which includes warehousing and transportation”, Neal Rider, chief executive of Emergent Cold LatAm, said.
“Some of our important customers in Brazil also operate in Paraguay and Uruguay”, he said.
