Thursday, April 18, 2024
HomeFunding Brazil-based Emergent Cold LatAm Secures US$500M in Funding

[Funding alert] Brazil-based Emergent Cold LatAm Secures US$500M in Funding

Brazil-based Emergent Cold LatAm secures US$500M in funding. The lead investors in the round were Stonepeak, Lineage and Losa Group.

Brazil-based Emergent Cold LatAm secures US$500M in funding. The lead investors in the round were Stonepeak, Lineage and Losa Group.

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With this new capital, Emergent Cold LatAm will continue expanding its regional cold storage network through its deep investment pipeline across business acquisitions, greenfield projects and expansions of existing facilities. Equally important, the Company plans to use some of this capital to invest in technology and best practices to ensure the highest levels of operational standards and customer service.

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.”

Emergent Cold LatAm has completed eighteen acquisitions and two new construction projects, with an additional nine greenfields in active development. The Company now operates more than 70 warehouses totaling more than 5.4 million cubic meters of storage capacity (including projects under construction) in 11 countries across Latin America. The latest funding brings total equity raised since July 2021 to US$ 1.2 billion.

Read also – CA-based OurSky Secures $9.5M in Seed Funding

Rider 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.”

About Emergent Cold LatAm

They are developing Latin America’s most comprehensive and innovative refrigerated logistics network. Their goal is to address the increasing demands of customers in the regional and international trade through providing state-of-the-art cold chain solutions through our state-of-the-art warehouses in the major urban centres and important ports in the region.

Read also – San Francisco-based Rhythms Raises $26 Million in Seed Funding

2021 saw Emergent Cold LatAm emerge as the temperature-controlled logistics company with the fastest rate of development. The primary port terminals along the cold chain and the major cities in the vicinity are where their assets are most strategically positioned.

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