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New Zealand: Scales Corporation sells coldstore operations to Emergent Cold

Christchurch, New Zealand: Diversified agribusiness Scales Corporation has agreed to sell its cold storage businesses, Polarcold Stores and Whakatu Coldstores (which were merged in January under the Polarcold brand), to Emergent Cold.

Scales managing director Andy Borland says: “We are proud to have built a market-leading position in the New Zealand cold storage industry. We were approached by Emergent Cold who see Polarcold as an ideal fit within their broader strategy of acquiring and developing a global network of cold chain businesses. Under the ownership of Emergent Cold, Polarcold will be able to offer its customers global cold chain solutions, and its employees an opportunity to be part of a global enterprise.”

Neal Rider, chief executive of Emergent Cold says: “Scales has built the leading cold storage business in New Zealand through dedicated service to customers, commitment to employees and the highest quality operations. We are excited to partner with this outstanding management team – we look forward to supporting the continued growth and expansion of the business, and its customers, throughout New Zealand and Asia Pacific with Emergent Cold.”