US-listed cold storage firm Americold Realty Trust is investing $3.9bn for a 49% interest in Dubai-based RSA Cold Chain.
NYSE-listed Americold said the partnership will enable RSA Cold Chain to expand locally and pursue strategic development opportunities in the Middle East and surrounding markets.
For Americold, the investment “will provide a scalable, investable operating platform for market entry and expansion in the Middle East and India”. Americold entered Europe in 2020 through the acquisition of Agro Merchants for $1.74bn.
George Chappelle, Americold’s CEO, said the partnership with RSA Cold Chain, combined with Americold’s recently announced partnership with DP World, provides the company with an ”ideal platform to provide supply chain solutions and cold storage capacity in the Middle East and India”.
“These relationships highlight why Americold is a global leader and preferred partner in the temperature-controlled storage warehousing and logistics industry. We are excited to bring our innovative solutions to the region and support our mission to help our customers feed the world.”
Abhishek Shah, RSA Cold Chain’s co-founder and CEO, said: “We are absolutely thrilled to partner with Americold, a global player that can connect the world’s food production markets to our region with a seamless service at origin and destination.
“We are excited to create a regional brand across our markets that our customers can trust.”
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