LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Americold Realty Trust to Acquire 15% Stake in Patria-Backed SuperFrio for US$28m

24 February 2020

Americold Realty Trust has agreed to acquire a 15% stake in SuperFrio Armazéns Gerais, a Brazilian cold storage operator owned by Patria Investimentos, for US$28m.

(Comercial Property Executive) Americold Realty Trust has entered into a joint venture under which it will purchase about 15 percent of SuperFrio Armazéns Gerais SA, a leading temperature-controlled storage operator in Brazil. SuperFrio currently operates 16 facilities, totaling 35.1 million refrigerated cubic feet.

The acquisition reportedly is valued around $28 million (about BRL 118 million) in cash consideration. Americold expects to fund the acquisition with a combination of cash on hand and revolver proceeds. The deal includes a provision that gives Americold the option to acquire full ownership of SuperFrio starting in 2023.

Under the agreement, Americold commits to funding up to an additional $30 million (about BRL 127 million) at its pro-rata share for the joint venture’s acquisition and development activity over the next two years.

In the meantime, Americold will gain a seat on the board of directors of SuperFrio, which is currently owned by Pátria Investimentos, a Brazilian private equity firm with about $14 billion of assets under management. The closing is subject to customary conditions and is expected to take place in the first quarter.

Americold noted in a prepared statement that Brazil, the world’s ninth-largest economy, is a key market in the global food chain, as a leading exporter of beef, poultry and other commodities.

As of press time, neither Americold nor SuperFrio had responded to Commercial Property Executive’s requests for additional information.

FROM NORTH TO SOUTH
Americold, of Atlanta, is the world’s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. In November, Americold went north for an acquisition, buying Nova Cold Logistics, a Canadian temperature-controlled warehouse operator, from Brookfield Business Partners L.P. The approximately $254 million transaction encompassed three Nova Cold locations totaling 23.5 million cubic feet, plus additional acreage for future expansion.

SuperFrio was ranked as the fourth-largest refrigerated warehousing and logistics provider in Latin America and the Caribbean in 2019 by the International Association of Refrigerated Warehouses.

Americold Realty Trust to Acquire 15% Stake in Patria-Backed SuperFrio for US$28m was last modified: March 3rd, 2020 by csantos
Americold Realty TrustBrazilNova ColdPatriaPatria InvestimentosPrivate CapitalPrivate EquitySuperFrioSuperFrio Armazéns Gerais
0
Facebook Twitter Google +

Tech Growth Membership

The 2023 LAVCA Startup Founders Survey is made possible thanks to the support of LAVCA’s Tech Growth Membership, a group of leading tech companies and investors advancing the tech ecosystem in Latin America including AWS, Mercado Libre, Microsoft, Qualcomm Ventures, SVB, Riverwood Capital, Google and Movile.

VC Partner Events

    Tweets

    Missing consumer key - please check your settings in admin > Settings > Twitter Feed Auth

    Submit VC News

    Have private equity or venture capital related news that you would like to share? Submit your press releases and news to [email protected].

    VC Industry News

    • Valor Capital Group and NFX Co-Lead USD9.3m Series A for Brazil’s Praso

      30 August 2023
    • EQT Growth Leads USD85m Series F for Brazil’s Gympass at USD2.2b Valuation

      23 August 2023
    • Tiger Global Leads USD61m Series B for Brazil’s Nomad 

      22 August 2023
    • NASZCA and IDB Invest Lead USD15.5m Series A for Mexico’s Wonder Brands

      17 August 2023
    • Victory Park Capital Provides USD100m Credit Facility for Mexico’s Klar

      15 August 2023
    • General Catalyst Lead USD45m Series B for Brazil’s Tractian

      7 August 2023
    • General Catalyst Leads USD45m Round for Brazil’s Tractian

      7 August 2023
    • ADQ Provides USD100m In Convertible Debt to Brazil’s Loft

      2 August 2023
    • Danish SDG Investment Fund Leads USD31.5m Series C for Mexico’s Bright  

      27 July 2023
    • Colombia’s Foodology Raises USD17m from Andreessen Horowitz, 30N Ventures and Chimera

      19 July 2023

    About LAVCA

     

    LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

    LAVCA Office

        New York City:
        589 8th Ave, 18th Floor
        New York, NY 10018

    Explore LAVCA.org

    • About LAVCA
    • Board, Team, & Advisors
    • Media
    • Contact Us
    • Membership Benefits
    • Members Only Access
    • Education and Programs
    • Research
    • Policy
    • LAVCA VC
    • Contact Us

    @2020 - LAVCA. All Rights Reserved.


    Back To Top