Constellation Cold Logistics has reached an agreement to acquire Togher, Cork-based Colso Coldstorage and VF Coldstores of Dublin. The transactions, terms of which were not disclosed, will allow Constellation to enter the Irish market in earnest.
Colso, a family-run business founded in 1974, is well established in the South of Ireland, with particular expertise across the dairy and meat sectors. Offering 24,000 pallets of storage capacity, it has become an essential supply chain partner to many of Ireland’s leading food producers, providing storage for products requiring a range of temperatures and complex handling requirements.
Colso Managing Director Deirdre Collins stated: “The other directors and I were attracted to Constellation’s entrepreneurial roots and family heritage, which is an ideal fit and best path for the next phase of our business. Our customers will benefit from access to Constellation’s network of over 25 facilities, as well as investments to support their growth here in Ireland.”
Constellation CEO Carlos Rodriguez remarked: “Colso will open up strategic opportunities for us in Ireland and strengthen our geographical position in Europe. Colso’s commodity expertise and excellent customer base are of major importance for our company. As a major net exporter of several key food product categories, Ireland is of great relevance within the global cold chain. Our plans include further growth via M&A and expansion projects to support customers’ international growth and streamline their route to market.
VF Coldstores was founded in 1988 and opened a second refrigerated warehouse to meet rising customer demand in 2007. It has17,000 pallets of storage capacity in the Dublin area plus a full suite of value-added services including blast freezing, high volume case picking, managed transport service, and import-export expertise. The company has become an integral link in the supply chains of major Irish producers in the meat and packaged foods sectors.
“VF’s strong relationships with Irish producers and its strategic location near the city center and the Port of Dublin strongly position the company for future growth,” said Rodriguez. “This transaction will allow us to continue to grow with existing VF customers, new clients, and numerous Irish companies which we already serve in the UK and mainland Europe”.
“I’m very pleased that we are joining Constellation,” said VF Coldstores Managing Director Vincent Flanagan. “Having a partner that fully understands European market dynamics, including the need for flexibility and agility to meet customer needs, will put VF in a stronger position to support the growth of our customers’ supply chains in Ireland, the UK and other countries.”
Constellation is Europe’s leading independent cold storage and logistics provider. Following closing of the VF Coldstores acquisition, it will have approximately 640,000 pallet positions of temperature-controlled capacity and a presence across seven European countries.
Constellation is a portfolio company of London, England-headquartered Arcus Infrastructure Partners, an independent fund manager with significant experience in European infrastructure investments.
