Oaktree's Agro buys Friopuerto's Iberian operations

The acquisition adds to Agro's footprint in Iberia, with existing cold stores in Barcelona, Algeciras, Lisbon and Porto.

Friopuerto will retain its cold storage facilities in Mexico, Morocco and Uruguay. 

Oaktree backed Agro in 2013. The group provides cold storage and logistics services, operating 67 facilities in 11 countries in Europe, North America, Latin America and Asia Pacific. Under Oaktree's ownership, Agro has bolted on around 20 companies. Some of the latest acquisitions include Portugal-based Cold Land, bought from Inter-Risco and Portugal Ventures, and California-based Cool Pak.

Company
Friopuerto's Iberian operations comprise two cold storage facilities in Portugal at the Ports of Sines and Leixões, as well as one in Spain, at the Port of Valencia – the only cold storage facility located directly at the port.

Friopuerto was founded in 2003 by the Romeu Group, a family-owned business in the Spanish cargo logistics sector. The business is based in Valencia.

People
Agro Merchants Group – Carlos Rodriguez (CEO).

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