Cube Infrastructure Managers is acquiring a 78% stake in French temperature-controlled logistics operator Dispam for Cube Infrastructure Fund III.

The investment is being made in partnership with Dispam chairman Pascal Masse who will retain a 22% interest.

Dispam is a multi-regional logistics provider that provides temperature-controlled transport for fresh food and perishable goods.

It manages just-in-time distribution through a network of seven strategically-located platforms and a fleet of 170 vehicles. In 2021, the company transported more than 1,200,000 tons of food produce across France.

Cube, which specialises in mid-market infrastructure assets in Europe, said it would support the growth of the business through the creation of new sites and the potential acquisition of other operators.

Dispam marks Cube’s first investment in the temperature-controlled logistics market. The company has made more than 30 investments in Europe, across the telecoms and digital, energy transition, transport, EV infrastructure and municipal services sectors.

Jérôme Jeauffroy, managing partner of Cube Infrastructure Managers, said: “Cube invests in businesses which capitalise on megatrends driving the need for sustainable infrastructure. Dispam is a perfect example of this, as the logistical needs of the agri-food sector continue to evolve.

“Dispam is a highly reputable player contributing to the resilience of the food supply chain, as demonstrated throughout the COVID-19 crisis.”