Australian cold-chain logistics provider Swire Cold Storage has sold its business, including 15 warehouses, customer and employee contracts and land, to US refrigeration technology company Emergent Cold, the Australian Financial Review reports.
Swire Cold Storage’s network covers over 65 million cubic feet (275,000 pallet spaces) of refrigerated storage, in 15 facilities across Australia.
The deal reportedly went through before Christmas, though financial terms have not been disclosed.
Emergent Cold also acquired Swire’s Vietnamese cold-storage business in the deal.
Emergent Cold was founded in May 2017 by Neal Rider, former President of US cold-storage behemoth Americold Logistics.
Emergent Cold’s LinkedIn page already reflects the acquisition, calling the company, “the market leader in Australia, with capacity for 320,000 pallets in 75+ million cubic feet of temperature-controlled space, ranging from fully automated high rise to traditional sites.”
“Over the past 60 years, Swire has built the leading cold storage businesses in Australia and Vietnam through dedicated service to customers, commitment to employees and investment in high-quality operations,” said Rider.
“We are excited to partner with this outstanding management team, and we look forward to supporting the continued growth and expansion of the businesses throughout Asia Pacific as part of Emergent Cold.”
The Refrigerated Warehouse & Transport Association of Australia (RWTA) has announced the appointment of Marianne Kintzel as its new Executive Officer. Kintzel entered the role in early January, 2018.
Kintzel has experience across a number of industries, including transport, logistics, cold storage, warehousing and manufacturing.
She was chosen for the role due to her experience developing business partnerships nationally and in Queensland, where she is now based.
Taste Ireland, an Australian distributor of Irish and UK foods, has announced a new end-to-end freight agreement with logistics company DHL.
DHL Global Forwarding will ship Taste Ireland’s products on direct sailings to Australia, selected to minimise transit times and the risk of in-transit food expiry. DHL will ship temperature-sensitive products in its refrigerated containers.
Prior to shipping, DHL will consolidate and pack Taste Ireland’s orders from customers including supermarket chains Coles and Woolworths as well as Irish pubs in Australia, to reduce container numbers and optimise transport costs and times for the distributor.
“We chose to work with DHL because of their exemplary track record in handling time-sensitive food shipments with strict compliance, accuracy, and efficiency,” said Eamon Eastwood, CEO, Taste Ireland.
“As our business continues to grow at breakneck speed, we needed a forwarder who could not only simplify and speed up our shipping process across numerous line items, but give us full visibility of and confidence in our shipments’ freshness when they arrive at each customer’s door.”
DHL will also pre-clear Taste Ireland’s shipments with Australian customs, and offer door-to-door airfreight for more urgent shipments.
“We’re excited to be helping Taste Ireland as it makes the leap from SME to global supplier of repute, by giving them total visibility and compliance across every facet of the logistics process as well as the support of our world-class customs clearance processes,” said Tony Boll, CEO, DHL Global Forwarding – South Pacific.
“The time previously spent on in-house logistics management can now go into how Taste Ireland markets and sells Ireland’s favourite foods to meet untapped and increasingly hungry demand throughout Australia and the South Pacific.”
Automotive Holdings Group (AHG) has entered into a binding agreement to sell its refrigerated logistics business – comprising its Rand, Harris, Scott’s and JAT operations – to CC Logistics (Australia), a wholly owned subsidiary of HNA Group, for $400 million.
The sale will comprise approximately $280 million in cash, and the acquisition by HNA of approximately $120 million in finance lease liabilities associated with the refrigerated logistics operations.
“AHG has previously announced it would explore all opportunities to maximise shareholder value from the refrigerated logistics business,” said David Griffiths, Chairman, AHG. “Although the restructuring initiatives are delivering a significantly improved financial performance, the sale provides AHG with the opportunity to realise a certain value for shareholders that reflects this continuing improvement.
“The sale also provides AHG with both the resources for further growth in our automotive operations and scope for capital management.”
John McConnell, CEO and Managing Director of AHG, added, “HNAI has indicated a commitment to growing and continuing to invest in the refrigerated logistics sector, both internationally and in Australia.”
Stephen Cleary, the current CEO of AHG Logistics, will remain in his role with the refrigerated logistics business and will be supported by the existing management team and employees of the business.
Completion of the transaction is expected to occur in the first half of 2018, and remains subject to the satisfaction of regulatory approvals and to other customary conditions precedent.
The sale of its refrigerated logistics operations is not expected to have any material impact on AHG’s automotive retail division or non-refrigerated logistics operations.
Australian food distributor PFD Food Services will soon add a new cold storage and food production facility to its portfolio in western Sydney.
Frasers Property Australia will construct the $70 million, 22,208m2 development on a 60,000m2 plot at its industrial site in Chullora, 15km west of the Sydney CBD.
It is expected to be completed in mid-2018.
PFD also recently commissioned Vaughan Constructions to build a $36 million, 25,500m2 facility on a 74,400m2 site in Knoxfield, 27km east of Melbourne’s CBD.
It will comprise 20,900m2 of refrigerated, ambient and seafood storage, along with 3,000m2 of office space.
Scheduled for completion in late 2017, the development recently hit the halfway mark, and Vaughan Constructions has shared a time-lapse video of the project’s progress.
“Construction of PFD Food Services’ new Knoxfield facility is progressing well,” Andrew Noble, Managing Director, Vaughan Constructions told Logistics & Materials Handling. “Vaughan Constructions is anticipating project completion at the end of September 2017.”