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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 ...
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