Oaktree's Agro Merchants buys Cool Pak

With the acquisition of the US west coast produce-focused business, Agro has complemented its existing east coast storage and repack business based in New Jersey. Steve Karo, the co-founder of Cool Pak, will lead this division as managing director.

Oaktree Capital backed Agro in 2013. The group provides cold storage and logistics services, operating 64 facilities in 11 countries across Europe, North America, Latin America and Asia Pacific. Unquote previously reported that the business bolted-on Portugal-based Cold Land, acquiring the asset from Inter-Risco and Portugal Ventures. 

Company
Established in 2013, Cool Pak provides storage and repacking services with a primary focus on fresh produce; services include inspection, grading, repacking, reconditioning, cross-docking and fumigation. The business has 16,000 square metre facility and is based in the Port of Long Beach.

People
Agro Merchants North America – Dave Moore (president).
Cool Pak – Steve Karo (co-founder).

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