Cold store giant Americold moves into Brazilian market with Superfrio stake

Chilled storage giant Americold has continued its international expansion with a move into the Brazilian market.

The real estate firm announced a joint venture with SuperFrio Armazens Gerais owner Patria Investimentos, under which it will spend about Br118m (US$28m) for a 15% stake in the South American temperature-controlled storage provider.

Americold says it will be in a position to complete a full takeover in three years.

“This agreement allows Americold to partner with leaders in the Brazilian market while providing for future growth ...