🧊 Stonepeak launches Peregrine Cold Logistics

Welcome back to CubeCold News where we cover the latest developments in the cold chain industry and temperature-controlled logistics.

In today’s edition:

• Stonepeak launches Peregrine Cold Logistics platform for Asia Pacific and GCC markets

• Constellation Cold Logistics to enter German market through acquisition of Spedition Wohlert and Wohlert Kühl Logistik

• Cencora enhances global pharmaceutical logistics services and cold chain capabilities

• The cold chain sector recalibration

News

Stonepeak launches Peregrine Cold Logistics platform for Asia Pacific and GCC markets Stonepeak, an alternative investment firm with approximately $80 billion in assets under management, has announced the launch of Peregrine Cold Logistics, a new cold chain platform targeting Asia Pacific and GCC regions.

• Headquartered in Singapore, the platform will focus on key markets including ASEAN, North Asia, and the GCC, providing temperature-controlled storage capacity and ancillary logistics solutions for temperature-sensitive and perishable goods.

• The platform's strategy encompasses both acquiring existing cold chain businesses and developing greenfield and brownfield projects.

• As its initial investment, Peregrine has agreed to acquire Pinnacle Cold Storage Inc., a cold storage business in the Philippines.

• Led by CEO Jeff Hogarth and an experienced management team with over 30 years of industry expertise, Peregrine aims to capitalize on the fragmented cold storage landscape across Asia.

• The platform is positioned to benefit from structural growth drivers including rapid urbanization, rising incomes, and increasing protein consumption throughout the region, addressing the growing demand for modern, purpose-built cold storage facilities managed by experienced operators. (Stonepeak)

Constellation Cold Logistics to enter German market through acquisition of Spedition Wohlert and Wohlert Kühl Logistik Constellation Cold Logistics, a leading European cold storage provider, has announced an agreement to acquire Spedition Wohlert and Wohlert Kühl Logistik, marking its strategic entry into the German market.

• The acquisition adds 40,000 pallet positions of temperature-controlled space and 150 vehicles providing less-than-truckload and full-truckload services across Germany.

• Spedition Wohlert operates from two main cold stores in Schleswig-Holstein and three satellite locations in Teterow, Rastede, and Kassel, offering comprehensive value-added services including import/export solutions, blast freezing, order picking, and crate washing.

• Founded in 1950 by Willi Wohlert as a livestock trading and haulage company, the business evolved over three generations into a full-service partner for the food industry.

• Constellation, which operates across nine European countries with over one million pallet positions, plans to expand capacity at Bollingstedt to support existing and new customers. (PR Newswire)

Cencora enhances global pharmaceutical logistics services and cold chain capabilities Cencora, a global pharmaceutical solutions company, has announced significant investments to expand its third-party logistics capabilities across the United States and Europe, strengthening its ability to support pharmaceutical companies worldwide.

• In Europe, the company is adding NextPharma Logistics, which provides integrated supply chain solutions across Germany, Austria, and Switzerland with GDP-compliant facilities offering temperature-controlled storage.

• Cencora will also open a 3PL facility in Italy in 2026, complementing recent expansions in France, Spain, and the UK.

• In the United States, Cencora plans to open a highly automated 500,000 sq ft 3PL facility in Texas by 2028, marking its fifth US facility.

• The company has tripled its ultra-low and cryogenic storage capacity across its US network to support specialty medicines including cell and gene therapies.

• These expansions strengthen Cencora's cold chain capabilities, including developing a dedicated specialty unit with cryogenic technology in the Netherlands and increasing refrigerated and frozen storage capacity in France. (Business Wire)

The cold chain sector recalibration The United States cold storage sector is experiencing a period of generational change characterized by surging rents alongside elevated vacancy rates.

• Average rents have grown over 100% since 2020, while vacancy has climbed to a two-decade high, reflecting a market digesting record new supply levels with 7.4 million square feet currently in the development pipeline.

• The sector faces a widening divide between modern, efficient facilities and aging legacy space, with the average facility age at 42 years.

• Major operators Lineage and Americold dominate with nearly 4 billion cubic feet of combined capacity, while newer entrants like Agile Cold Storage, founded in 2020, are rapidly expanding.

• Evolving operational strategies include increased user-driven development as occupiers migrate from third-party space to owned facilities.

• Despite near-term challenges including elevated grocery inflation and policy uncertainty, structural drivers such as domestic food production investment, population growth, and e-grocery expansion support long-term demand for modern cold storage facilities. (Area Development)

Other headlines

CoolKit won the What Van? Innovation Award for developing the industry's first under-vehicle refrigeration system for an electric van (Ford E-Transit Custom), solving Fortnum and Mason's sub-2m height restriction challenge at their Piccadilly location.

Americold Realty Trust announced its participation at the Nareit REIT world conference December 9-10 and reaffirmed its full-year 2025 financial outlook previously communicated on November 6.

CMG Containers announced an expanded line of refrigerated containers offering rapid deployment, modular scalability, and relocatable temperature-controlled storage for industries including food distribution, pharmaceuticals, agriculture, and emergency relief.

The EU released €5.2 billion in funding from ETS revenues for clean technologies, hydrogen production, and industrial heat that will influence future costs of electric and hydrogen HGVs, refuelling infrastructure, and low-carbon logistics facilities across Europe.

Carrier sponsored the fifth World Cold Chain Symposium in Nairobi focusing on private sector engagement to build sustainable cold chains through viable business models, with Carrier executives highlighting the company's net-zero commitment by 2050 and capacity-building programs in Ghana, Rwanda, and India.

That’s it for this week!

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