African Infrastructure Investment Managers (PTY) Ltd. (AIIM), one of Africa’s leading infrastructure investment managers and a subsidiary of Old Mutual Alternative Investments, has announced the acquisition of a 70% stake in Port Elizabeth Cold Storage (PECS) through its temperature-controlled logistics platform, Commercial Cold Holdings (CCH). The investment is funded by AIIM’s African Infrastructure Investment Fund 4 (AIIF4) and the IDEAS Managed Fund.
The acquisition of PECS adds approximately 15,000 pallet positions to the CCH platform, expanding its national footprint by 10% and strengthening its position as the largest cold storage platform on the continent. PECS is strategically located in the Eastern Cape, South Africa’s second-largest citrus-producing region.
As part of AIIM’s broader sustainability and energy-efficiency strategy, CCH will look to improve renewable-energy generation and enhance battery-storage solutions at PECS to improve cost efficiency and reduce carbon intensity. The acquisition will also result in approximately 70 permanent jobs being added or transferred to the platform, furthering AIIM’s inclusive employment and transformation agenda.