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Thursday, May 16, 2024

Garrigues advises Zolve on Logifrio´s acquisition of Friologic

Garrigues has advised Zolve on Logifrio´s acquisition of 100% logistics operator Friologic, strengthening its presence on an Iberian level

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Logifrio, part of the Zolve group, has reached an agreement with the Friologic group and has acquired its entire share capital. The acquired logistics operator Friologic owns three platforms in Spain, namely in Madrid, Vitoria and Santander. Altogether, Friologic employs 42 people and has an infrastructure with a total capacity of 112,500 cubic metres of cold storage where up to 21,800 pallets can be stored, as well as offering freezing services through tunnels for this purpose.

This acquisition is in line with Logifrio’s strategic development plan, with a strong ambition for growth, both organically and through acquisitions aimed at strengthening the company’s position in the Iberian market, the company explains in a statement. Significant investments are also planned in the incorporation of new technologies with the aim of further strengthening the adaptation of the business to the new challenges of the market.

In the words of Alberto Sancho, Logifrio’s director in Spain: “The quality of service and attention to detail that has always characterised Friologic’s operations is a differentiating element in the market and coincides with the spirit that has always driven Logifrio. Incorporating Friologic’s team and operations allows us to offer an integrated service solution to customers, and to strengthen our presence on an Iberian level”.

Garrigues advised Zolve with teams from Spain and Portugal. Partner Renata Mendaña and associate Iker Saracho advised from the firm´s Madrid office, while partner Tomás Pessanha and associate Filipa Sousa Ribeiro advised from the Oporto office.

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