NewCold is pleased to announce it is expanding its service in a new market with the acquisition of Frigoservice in Lisbon, Portugal. An earlier investment was made in November 2021 with the acquisition completed in July 2022.
Frigoservice is a leading frozen logistics provider active in the Portuguese market since 2001. Frigoservice will be rebranded as NewCold.
As part of its market strategy in Portugal, NewCold has also acquired a brownfield site in Palmela. The estate includes a temperature-controlled warehouse This investment will provide infrastructure for growth ambitions.
The estate has a total area of 153.390 m², with 42.812 m² of buildings.
The property with c.a 153.390 m2 of GCA is in Palmela (Greater Lisbon Area). It is in Quinta da Marquesa, an Industrial Area surrounding the A2and the EN379 (Azeitão-Palmela).
The North area, next to the A2, is the most consolidated and where some large logistic platforms are located, with a clear benefit from the proximity to structural road axes (A2 and A33). Some of the neighboring companies include Coca-Cola, ALDI DC, Ribeiralves and Volkswagen AutoEuropa.
Abhy Maharaj, Chief Commercial Officer NewCold said: “This investment will enable us to intensify our digital innovation in transport and cold storage. And support our growing global footprint. This expansion into Portugal reinforces the importance of technology for our business and our industry, helping us to create further value for our customers.”
