AIIM has acquired a 70% stake in Port Elizabeth Cold Storage to enhance its temperature-controlled logistics platform while tapping into South Africa's growing agricultural export market.

Information on the Target

African Infrastructure Investment Managers (PTY) Ltd. (AIIM), a prominent infrastructure investment manager in Africa and a subsidiary of Old Mutual Alternative Investments, has successfully acquired a 70% stake in Port Elizabeth Cold Storage (PECS). This acquisition is part of AIIM's temperature-controlled logistics platform, Commercial Cold Holdings (CCH), and is supported by its African Infrastructure Investment Fund 4 (AIIF4) and the IDEAS Managed Fund.

By integrating PECS into its operations, CCH has increased its storage capacity by adding approximately 15,000 pallet positions, which enhances its national footprint by 10%. Strategically located in the Eastern Cape, one of South Africa's key citrus-producing regions, PECS plays a vital role in handling over 200,000 pallets of citrus exports each year, accounting for about 8% of the nation's total citrus exports.

Industry Overview in South Africa

The cold storage industry in South Africa is experiencing significant growth as the demand for temperature-controlled logistics rises, driven by the expanding agricultural export sector. The country’s agricultural ind