LONDON, Aug. 7, 2024 - Constellation Cold Logistics ("Constellation" or the "Company"), a leading European cold storage and logistics provider, announced today that it has entered into an agreement to acquire Agri-Norcold A/S ("Agri-Norcold"). The transaction brings Constellation's first entry into the Danish market, strengthening its European footprint and service offering in the Nordics for existing and new customers.

Agri-Norcold, headquartered in Aalborg, Denmark, has been the leading player in the Danish cold storage industry since its establishment in 1964. Agri-Norcold owns and operates 10 facilities strategically positioned near major food production hubs, import/export points, and major cities ensuring efficient transportation and logistics flows. Its extensive network across Denmark boasts a total of 865,756 m3 of frozen storage, or 266,000 pallet spaces, in addition to major freezing and packing infrastructure. Since 2012, Agri-Norcold has been jointly owned by TA-Logistics and Danish Crown.

Carlos Rodriguez (Constellation's CEO) said: "The addition of Agri-Norcold to our network opens up strategic opportunities in Denmark and strengthens Constellation's leading position in the Nordics, where we already enjoy strong partnerships and growth opportunities with our customers in Norway and Sweden.

"Agri-Norcold's long standing relationship with Danish Crown and several other meat, dairy, seafood and packaged food producers positions the company well for future growth. Denmark is one of the largest net exporters of food products in Europe, and this transaction will allow us to continue to grow with new customers, as well as many others that we already serve across the Constellation network."

Thorkil Andersen (CEO, TA-Logistics A/S, and Chairman for Agri-Norcold) said: "I'm very pleased that Agri-Norcold is joining Constellation. The Agri-Norcold team's customer service focus is very much aligned with Constellation's responsiveness and culture, and they look forward to benefiting from the capabilities of a pan-European network. TA-Logistics companies look forward to collaborating with Constellation, both within Denmark and in other operating geographies where Frode Laursen and other companies of the group provide transportation and other value add services."

Jan Nielsen (Agri-Norcold's MD) said: "I would like to congratulate our employees for the great company that they have built over the years. They should take great pride in what we have achieved together, and they can look forward to greater opportunity and growth as part of the wider Constellation network. I would also like to thank our customers for the trust they place in us every day, I am excited to be able now to provide them with solutions across Europe, and to extend our services in Denmark to existing Constellation customers. Constellation and Agri-Norcold share common values and I truly believe that we can achieve great things together."

Constellation is Europe's leading independent cold storage and logistics provider with approximately 700,000 pallet positions of temperature-controlled capacity and a presence across seven European countries, excluding the Agri-Norcold acquisition. www.constellationcold.com

TA-Logistics is a family-owned investment company that focuses solely on logistics. TA-Logistics owns, leads and develop operational logistic companies. These include Frode Laursen A/S, IN-Store A/S, Kaj Madsen Fjelstrup A/S, Skanol A/S and other subsidiaries, with more than 3,000 employees, 600,000 m2 warehouse and 1,300 transport vehicles across the group.

www.ta-logistics.dk | www.frode-laursen.com