Growtheum Invests $121 Million in Philippine Cold Storage Chain
- Funding to help Mets Logistics expand storage network
- Country sees investments in cold chain vital for food security
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Growtheum Capital Partners will invest 7 billion pesos ($121 million) in Philippine cold storage provider Mets Logistics Inc., backing an industry that the Southeast Asian nation sees as crucial in securing food supply.
The investment from Singapore-based GCP will help Mets Logistics grow its network of facilities in the Philippines, where it’s already a key player, according to a statement from the companies on Monday. As part of the deal, Mets Logistics’ founding shareholders will also invest an additional 500 million pesos in the company.