Logifrio buys Spanish group Friologic
The Zolve group, through Logifrio, announced the acquisition of the Spanish company Friologic. The transaction included all of the capital of the three companies that make up the Spanish logistics group specializing in controlled temperature that operates three logistics platforms in Madrid, Vitoria and Santander.
With this acquisition, Logifrio increases its storage capacity by 112,500m3, which is equivalent to 21,800 pallets, in the Iberian market. In addition to refrigeration, Friologic has seven tunnels for freezing services, spread across the three facilities.
“This acquisition meets the strategic development plan, with a strong ambition for growth, both from an organic point of view and through acquisitions, with a view to strengthening the position in the Iberian market”, underlines the company, in a statement. “Significant investments are also foreseen in the incorporation of new technologies with the objective of strengthening even more the adaptation of the business to the new challenges of the market”, he adds.
The Friologic group, which has been operating since 1962, employs 42 people. “It is with great pleasure that we welcome new colleagues at Friologic. This acquisition is in line with the strategic objectives of expanding its geographic coverage, strengthening its role as a reference operator in the panorama of warehouse and transport services at controlled temperature in the Iberian Peninsula”, says Vítor Figueiredo, CEO of Logifrio, quoted in the statement .