Emergent Cold Latin America Completes Acquisition of Frimosa Paraguay

Transaction adds new country to Company’s growing regional network

SÃO PAULO--(BUSINESS WIRE)--Emergent Cold Latin America (Emergent Cold LatAm or the Company), the fastest-growing refrigerated storage and logistics service provider in Latin America, announced today the acquisition of the leading temperature-controlled storage facility in Paraguay from Frigorifico Modelo (Frimosa). The parties also continue to work towards the acquisition by Emergent Cold LatAm of Frimosa’s cold storage operations in Montevideo, Uruguay, which will occur later this year.

Emergent Cold LatAm’s newest location is a modern 8,400 pallet warehouse located in Asunción, the capital of Paraguay. This acquisition includes land for growth, and the Company is actively planning an expansion project in response to strong customer demand.

With this transaction, Emergent Cold LatAm now has cold storage and logistics operations in eleven countries, including active projects under construction. The Company continues to develop a pipeline of attractive investment opportunities, with the goal of transforming the food supply chain in Latin America.

“We are pleased to reach a successful outcome with Frimosa and expand our South Cone network,” said Evandro Calanca, Managing Director of Emergent Cold LatAm. “I also look forward to completing the purchase of Frimosa’s Uruguay cold storage operations later this year so that we can continue to grow our business and provide the most comprehensive logistics solutions for our customers.”

44 Capital Finanças Corporativas acted as financial advisor and Ferrere Abogados acted as legal advisor to Emergent Cold LatAm.

About Emergent Cold LatAm:

Emergent Cold Latin America (www.emergentcoldlatam.com) is building the highest-quality cold chain network to provide end-to-end temperature-controlled logistics solutions to their customers across Latin America. The company was founded to cover the need for modern cold chain solutions in the market and to meet the increasing demand from domestic and global customers. Emergent Cold LatAm currently operates 63 cold storage facilities, more than 500 trucks, and five facilities now under construction to complete a total of 11 countries across Latin America.