Versacold sells NZ chain

Thursday 16th December 2010

Vancouver-based refrigerated warehousing and logistics company, Versacold International Corporation has sold its nine New Zealand operations and more than 450,000 cubic metres of refrigerated space to an American company.

The assets and operations of Versacold NZ, and Versacold Logistic services NZ, in Auckland, have been sold to Americold Realty Trust, along with all of the company's other non-Canadian assets.

The sale included 54 facilities in the US, nine in Australia, and two in Argentina.

Its NZ operations include warehouses for chilled and frozen product in Auckland and Palmerston North.

In Christchurch it has had two further refrigerated warehouses, in addition to its Braeburn Drive site, since the September earthquake.

NZ general manager Steve Running told NZPA he did not expect customers to notice any alteration to the business, as the sale was effectively to a sister company, also controlled by Los Angeles-based private equity investment group, The Yucaipa Companies, set up by US billionaire Ronald Burkle.

NZPA

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