🧊 Cold chain sector maintains M&A momentum

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

In today’s edition:

• Emergent Cold Latin America announces acquisition of Comfrio

• Lineage expands Nordic presence with acquisition of Permanor AS in Norway

• Seafrigo launches in Chile to strengthen global cold chain

• Celcius Logistics closes Series B funding round

• Carrier completes acquisition of Addvolt

News

Emergent Cold Latin America announces acquisition of Comfrio Emergent Cold LatAm has entered into a definitive agreement to acquire Comfrio, a leading temperature-controlled food logistics company in Brazil.

• Currently controlled by Aqua Capital's private equity fund, Comfrio operates 24 sites with 420,000 pallet positions and over two million cubic meters of storage capacity.

• The acquisition excludes Comfrio's food service unit, which will remain under Aqua Capital's control.

• This acquisition enhances Emergent Cold's Brazil market position by adding domestic distribution capabilities to complement its existing export operations.

• Upon closing, Emergent Cold's Brazil portfolio will expand to 38 facilities across 12 states with approximately 2.9 million cubic meters of temperature-controlled storage. (Emergent Cold LatAm)

Lineage expands Nordic presence with acquisition of Permanor AS in Norway Lineage, Inc. has completed its acquisition of Permanor AS, a leading Norwegian cold storage and logistics provider.

• Permanor specializes in freezing, thawing, storage, and logistics services primarily for the meat manufacturing industry, while also handling baked goods and other food commodities.

• The acquisition encompasses Permanor's operations and property in Haugesund and Brumunddal, strengthening Lineage's Nordic footprint.

• The combined facilities span over 10,000 square meters with approximately 24,500 pallet positions.

• Sean Vanderelzen, President of Europe at Lineage, emphasized the strategic fit, while Permanor CEO Hege Skogland Mokleiv expressed excitement about joining Lineage's vision for a more efficient and sustainable industry. (Lineage)

Seafrigo launches in Chile to strengthen global cold chain Seafrigo has expanded into Latin America by opening two strategic offices in Chile: an operational hub at Santiago Airport and a commercial office in Las Condes.

• This move strengthens Seafrigo's cool-chain food logistics network in a region where perishables rank second only to mining in economic importance.

• Under the leadership of Denis Hidalgo, a logistics expert with 22 years of experience, Seafrigo Chile offers comprehensive services including documentation handling, airport repacking, inland trucking, and specialized packaging for temperature-sensitive goods.

• The company already manages diverse Chilean exports by air, including cherries to Asia, seafood to North America, and flowers to Europe.

• With plans to expand into Peru, this development is part of Seafrigo's broader Latin American growth strategy, further cementing its four-decade legacy in global temperature-controlled food logistics. (Air Cargo News)

Celcius Logistics closes Series B funding round Celcius Logistics, an Indian cold-chain logistics startup, has secured ₹250 crore (approximately $29.7 million) in its Series B funding round.

• The investment comprises a balanced mix of equity and debt, co-led by European venture capital firm Eurazeo and Indian agritech-focused VC Omnivore, with participation from existing investor IvyCap Ventures.

• Debt financing was provided by Trifecta Capital, Lighthouse Canton, BlackSoil, UCIC, and GetVantage.

• Founded in 2020, Celcius operates an integrated online platform offering end-to-end cold-chain solutions, including transportation, warehousing, last-mile, and hyperlocal delivery services.

• The company will use the fresh capital to expand its network from over 600 to more than 1,000 cities across India, while also strengthening its proprietary technology platform. (VCCircle)

Carrier completes acquisition of Addvolt, enhancing its electrification solutions Carrier Global Corporation has acquired Addvolt, S.A., a Portuguese transport electrification technology company and long-term partner.

• Addvolt specializes in patented, non-invasive electric systems for refrigerated transportation that reduce emissions and eliminate fuel usage.

• The acquisition strengthens Carrier's electrification strategy by incorporating Addvolt's advanced technology, power management systems, energy management software, and engineering talent.

• The technology is already being utilized in Europe with the Vector® eCool, the world's first fully autonomous electric trailer refrigeration system.

• Headquartered in Porto, Portugal, Addvolt's approximately 60 employees will join Carrier's Climate Solutions Transportation segment. (Carrier)

Other headlines

TIP Group partners with SolarEdge e-Mobility and Mitsubishi Heavy Industries to launch the industry's first solar-powered refrigerated trailer that combines solar panels, energy recuperation, and battery storage to eliminate diesel usage and potentially achieve ROI in 2-4 years.

Cold Chain Technologies launches the CCT TRUEtemp Naturals shipper, a curbside recyclable parcel solution for 2°C-8°C temperature-controlled shipments that combines thermal performance with sustainability.

Carrier Transicold expands its zero-emission refrigeration offerings with the flexible Vector 8200 electric TRU and enhanced Vector eCool system featuring improved energy efficiency and in-wheel motors that generate power during trailer movement.

Hubei Hydrogen Power and CCCC Cold Chain form strategic partnership to integrate hydrogen-powered vehicles into cold chain logistics, launching 4.5-mt fuel cell refrigerated vehicles in Wuhan.

Thermo King and Range Energy expand partnership to accelerate electric refrigerated trailer commercialization through joint sales, distribution, and service initiatives across the Americas.

That’s it for today!

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