SÃO PAULO--(BUSINESS WIRE)--Emergent Cold Latin America (Emergent LatAm), the fastest-growing refrigerated storage and logistics service provider in Latin America, announced today the acquisition of Polo Logístico de Frio (PLF), an important player in Uruguay with a strong market reputation and diverse customer base. This acquisition marks Emergent LatAm's entry into Uruguay – a major logistics hub in Latin America. Emergent LatAm also committed to expand PLF’s facility to up to double its current size, creating operational improvements and enhanced service offerings.
Founded in 2018 by Daniel Tugentman, PLF operates a single facility located approximately 30 kilometers from the Port of Montevideo, with extensive land for further expansion. The company offers comprehensive storage and value-added logistics services, including bonded storage capabilities.
With the addition of PLF, Emergent now operates a total of 14 cold storage facilities, with another three facilities under construction, across six countries. In particular, Uruguay is a key component of Emergent LatAm’s investment strategy due to its importance in global food trade. The country is the third largest beef exporter in Latin America and enjoys strong trading relationships across the globe. The Port of Montevideo is emerging as one the region’s main cargo routes, with three terminals and plans for further expansion.
“Our acquisition of Polo Logístico de Frio represents an exciting addition to our regional network,” said Neal Rider, CEO of Emergent LatAm. “Uruguay is a growing export trading market of strategic importance to our customers. I am pleased to welcome the management and staff of Polo Logístico de Frio to Emergent LatAm, and we look forward to moving forward on our expansion plans. I also wish to thank Daniel Tugentman for his vision in having built Polo Logístico de Frio into a market leader, and for his partnership throughout this process.”
“The sale agreement with Emergent Cold LatAm will bring great progress and new opportunities for Uruguay and its region,” said Daniel Tugentman, founder of PLF. “It will be an honor to continue to collaborate with Emergent Cold LatAm, contributing with our experience. We will keep working daily in order to reach the new goals proposed by Emergent Cold as well as our own.”
44 Capital Finanças Corporativas acted as financial advisor and Ferrere Abogados acted as legal advisor to Emergent LatAm.
About Emergent Cold LatAm:
Emergent Cold Latin America (www.emergentcold.com) is building a world-class, end-to-end refrigerated storage chain to provide logistic integrated solutions for refrigerated food for clients throughout Latin America. The Company was founded to meet the modern solutions needs in refrigerated chain and the growing demand of clients in domestic and foreign trade.