AGRO Merchants Group acquires Frissul and Frigomato
Cold Land is the parent company of Frissul and Frigomato, which together offer 303,200 cubic meters of storage capacity or the equivalent of 55,700 pallet positions, making it the leading cold storage operator in Portugal and a key player in the Iberian Peninsula.
This latest acquisition for AGRO expands its footprint in a key strategic region and significantly broadens its capabilities and service offerings throughout the food supply chain. The current management team, led by CEO Afonso Almeida, will continue to lead the business in Portugal.
The acquisition by AGRO is part of the company's plan to become the leading cold storage and logistics service partner serving the Iberian Peninsula. In March 2016, AGRO acquired Barcelona-based APC, a cold storage company in Spain with two facilities totalling 55,000 pallet positions. Also in 2016, AGRO completed a state-of-the-art expansion of its Algeciras warehouse, which increased that facility's capacity to 15,600 pallet spaces.
"Frissul and Frigomato are valuable additions to our global cold storage network given the quality infrastructure, customer base and focus, management team and high standards of service," said Carlos Rodriguez, CEO of AGRO Merchants Group. "The Iberian Peninsula is also one of several key clusters for our group, with current operations in Algeciras and the Barcelona area and plans to expand further in the region. The addition of Frissul and Frigomato extends our geographical coverage and enhances our capability to offer full transportation and distribution solutions to existing and new customers."
For more information:
www.inter-risco.pt
www.agromerchants.com
www.portugalventures.pt