Emergent Cold signed an agreement under which it will acquire Melbourne, Australia-based Oxford Cold Storage. This acquisition complements the broader Emergent Cold strategy of creating a global network of cold chain businesses, says the company.

Dallas, Texas-based Emergent Cold was founded in 2017 and has a network of 42 cold stores in five countries. In related news, the company is making a strategic investment in Piura, Peru, which marks its initial investment in Latin America.