Provender Partners, Cerberus Form Cold Storage JV
Newport Beach-based Provender Partners formed a joint venture with an affiliate of Cerberus Capital Management, L.P. The partnership will focus on building a multibillion-dollar portfolio of cold storage processing facilities in the United States, while bringing vital supply chain solutions to market.
The JV will provide for a broad range of acquisition opportunities in all U.S. markets and will build upon Provender Partners’ industry-leading platform, as well as Cerberus’ global investment and asset management expertise.
Provender is a refrigerated real estate investor that’s acquired nearly $500 million of refrigerated real estate totaling five million square feet, since its founding in 2014.
Provender Partners’ Neil A. Johnson says, “Beyond expanding our portfolio, the partnership will broaden our ability to help farmers and distributors as global conditions continue to impact the food supply chain. As processors and warehousers seek efficiency and geographic diversity, we look forward to delivering innovative, quality food supply chain solutions.”
For comments, questions or concerns, please contact Dennis Kaiser
*Pictured 860 81st Ave. Oakland, CA, purchased by Provender Partners summer of 2020.