AGRO Merchants Group acquires our facilities in Spain and Portugal
We will retain the Friopuerto cold stores operating in Veracruz and Tánger
With this transaction we completed the project, that we started in 2003 with the construction of our first site in the Valencian docks. AGRO Merchants will take over the three port-based cold storage facilities in the Iberian region, located in Valencia, Sines y Leixões, which operate in well developed markets and we will focus on further development in emerging markets with our operations in Veracruz (Mexico), and Tánger Med (Morocco).
The new owner, AGRO Merchants Group, is a global leader in temperature-controlled storage and logistics for the food industry, with 67 facilities in 11 countries. AGRO is currently the 4th largest operator in the world, therefore they are in a strong position to carry on with the projects and take them to the next level.
“We are happy because with this transaction, the concept of cold chain services within strategic port locations, that we started developing 16 year ago, has shown its great value. We have been successful in building a model of in-port temperature-controlled logistics platforms, oriented at external trade, that hasn’t existed before. At all of our platforms, apart from Montevideo, we have started from nothing. It was a logical step for us to transition the businesses to AGRO Merchants Group and we are delighted that they will continue with this exciting project.”
Gonzalo Sanz, CEO de Grupo Romeu.
Friopuerto belongs to Romeu, a conglomerate of family origin that is currently run by members of the 3rd, 4th and 5th generations. The origin of the business dates back to 1869, as consignees of ships (representatives of the shipping lines) from Holland, United Kingdom, Sweden and France in the port of Tarragona.