Scales has $220M war chest for acquistions following coldstore sale, Craigs says

Sun, 13 May 2018

By Tina Morrison May 14 (BusinessDesk) - Scales Corp will have about $220 million in its war chest to pursue merger and acquisition opportunities after the country's largest apple grower sells its cold storage businesses to US-based Emergent Cold, according to brokerage Craigs Investment Partners. Christchurch-based Scales said last week it had agreed to sell its cold storage businesses Polarcold Stores Ltd and Whakatu Coldstores Ltd, which were merged on Jan. 1 under the Polarcold brand, to Emergent Cold for $151.4 million, subject to Ov...

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