Constellation Cold Logistics (“Constellation” or the “Platform”), a pan-European platform comprising market-leading cold storage businesses, announced today that its partner company in Belgium, Stockhabo, has reached an agreement to acquire 100% of the shares in Frigologix. This acquisition strengthens Stockhabo’s leading position and service offering in the Belgian market and expands the Constellation network into France. Constellation is a portfolio company of Arcus Infrastructure Partners (“Arcus”), an independent fund manager with significant experience in European infrastructure investments.
The acquisition marks the sixth investment by Constellation, with a network now spanning Belgium, France, the Netherlands, Norway, Sweden and the UK. Including Frigologix, Constellation will be able to offer its clients access to over 440k pallet positions of capacity in its modern facilities across six countries in Northwest Europe.
Xavier Haspeslagh, Managing Director and Co-Founder of Stockhabo, underlined the strategic benefits of the acquisition: “We have seen Frigologix as a complementary business to ours for several years, operating as a family-owned market-leader in the North of Belgium and Eastern France, which fits well with our current footprint in Southern Belgium. We share the long-term vision for the business with Reinier and his key customers, and are excited for the opportunity to grow and improve our offering alongside those customers. Stockhabo will always seek to meet and exceed the needs of our customers. This acquisition presents an opportunity for us to demonstrate that strategy to new and existing relationships in the market. We have been very impressed with the business that Reiner has built and look forward to building on that solid base with the Frigologix team over the coming years.”
Reinier Van Elderen, Founder and CEO of Frigologix, commented: “It has been with great pleasure and enthusiasm that my Frigologix team and I have built our business to the level it has achieved to this date. It is now time for a new step to allow Frigologix to continue its growth and its attractive position in the market together with its outstanding service to customers. As such, we feel confident that the business and its customers are in good hands with Stockhabo and the broader Constellation platform. They combine the best of both worlds, with continued family ownership alongside a leading long-term investor, as well as a focus on innovation and the core value of building strong and long-lasting partnerships with their clients.”
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Constellation Cold Logistics