Americold buys Australian cold storage firm

Brisbane, Australia: Americold has snapped up Australian company, Lago Cold Stores, for A$106.4m.

Lago operates three temperature-controlled storage sites within Brisbane Port. Americold will also acquire a road haulage component, with Lago operating its own fleet of vehicles.

“We are pleased to announce our agreement to acquire Lago Cold Stores, which expands our presence in the Brisbane, Australia market,” said Americold president and chief executive Fred Boehler.

“Once completed, this acquisition will add three strategically located assets to our portfolio, growing our footprint in Brisbane and increasing our presence in Australia to more than 56 million cubic feet.”

The acquisition is expected to complete later this year.

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