To improve essential temperature-controlled logistics infrastructure in sub-Saharan Africa and ensure food security in the region, African Infrastructure Investment Managers (AIIM) and its investment partners, Bauta Logistics and Mokobela Shakati (Pty) Ltd Consortium have established a cold chain logistics platform, Commercial Cold Holdings (CCH) with the initial acquisition of CCS Logistics from Oceana Group. CCS currently operates about 100,000 pallets of storage across six facilities in Johannesburg, Cape Town and Walvis Bay, Namibia.
Funds managed by AIIM intend to invest up to US$150 mln in the platform, inclusive of the initial asset acquisitions as well as a pipeline of further acquisitions and greenfield development projects. The transaction is subject to regulatory approval.
As global population grows and demand for food supply chains increase, demand for temperature-controlled logistics is also on the rise. This transaction therefore signifies AIIM’s entry into the cold storage sector which seeks to establish a pan-African cold storage platform.
Source: theafricalogistics.com