Frimosa sells cold storage assets to Emergent

Frimosa sells cold storage assets to Emergent

Corporate & Sovereign Strategy M&A Latin America Uruguay United States Paraguay

Uruguayan agribusiness Frigorífico Modelo (Frimosa) said it has reached a deal to sell part of its business for $51 million to Emergent Cold Latin America, a Miami-based cold storage company that has been quickly expanding in Latin America. The deal includes Frimosa’s cold storage facilities for third parties and a bonded warehouse in Uruguay, as well as its shares Frigorífico Modelo PY in Paraguay, according to a securities filing. Frimosa said it will hold an extraordinary shareholders meeting

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