Latin America. The company announced that it has secured $500 million in capital commitments from new and returning investors, including Stonepeak, Lineage and Losa Group.
With these resources, Emergent Cold LatAm will continue to expand its regional refrigerated storage network, through an investment portfolio that encompasses commercial acquisitions, new constructions and expansions of existing facilities. In addition, the company plans to use part of the capital to invest in technology and best practices to ensure its operational and customer service standards.
"This capital raise validates the strength of our investment thesis and demonstrates our investors' confidence in the company's businesses and management team," said Neal Rider, CEO of Emergent Cold LatAm. We proudly advance our mission to redefine the future of food chain logistics across Latin America," he added.
To date, the company has completed 18 acquisitions and two new construction projects, with nine other constructions or expansions under development. The company now operates more than 70 warehouses, with more than 5.4 million cubic meters of storage capacity (including projects under construction) in 11 countries in Latin America. The latest funding brings the total equity raised since July 2021 to US$1.2 billion.
"The investment opportunity is substantially greater than our original assumptions. Latin America is an essential part of global food trade and I believe this trend will grow as the region benefits from a more modern logistics infrastructure and a focus on food security," Rider concluded.
