|
|
Article: Now add Versacold to Eimskip Holdings.(Warehousing World)(Versacold Income Fund)(Brief article)
- Article from:
- Quick Frozen Foods International
- Article date:
- July 1, 2007
CopyrightCOPYRIGHT 2007 E.W. Williams Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Versacold Income Fund, which operates 72 Versacold refrigerated warehouses, mostly in Canada and the United States, has agreed to be acquired by Iceland's Eimskip Holdings--which has fast become a world-class player in the refrigerated logistics industry.
The purchase price was $525 million, or $1.1 billion with assumed debt. Another Canada-based cold-storage operator, Atlas Cold Storage Income Trust, had already been acquired by Eimskip for $583 million. The Icelandic group will now hold 55% of the market in Canada, according to Versacold CEO Brent Sugden.
The deal was "the culmination of the strategic review process the fund undertook and represents ...