Eimskip completes Versacold acquisition
Iceland’s Eimskip Holdings Inc. has successfully completed its offer to acquire all issued and outstanding trust units of Versacold Income Fund, a public refrigerated warehousing company with 72 facilities in the United States, Canada, Australia, New Zealand and Argentina.
The aggregate acquisition cost, including debt, is C$1.18 billion ($1.11 billion).
Versacold has applied to de-list the units and the debentures from the Toronto Stock Exchange, and will apply to the Canadian Securities Administrators to cease to be a reporting issuer.
With the acquisition, Eimskip will have a presence in the temperature-controlled transportation and warehousing services market in every continent, except Africa.
“I believe that Eimskip's complementary and extensive operations in shipping, trucking and storage will facilitate Versacold's current plans to expand their presence in public refrigerated warehousing, third party logistics and transportation,” said Baldur Gudnason, Eimskip’s chief executive officer.