Amancio Ortega, the billionaire founder of the Zara clothing chain, is expanding his network of warehouses in the US with the acquisition of a new logistics center in California.
Ortega’s family office has paid $109 million to acquire the center in Inland Empire, a logistics hub some 60 miles east of Los Angeles, from LBA Realty LLC, according to a company spokesperson, who confirmed details published earlier by the Commercial Observer. The warehouse is used by Walmart Inc.
The deal comes on the back of Pontegadea’s $900 million foray into US logistics last year, which marked its entrance into the sector. Ortega acquired his first European warehouse in the Netherlands last month, in a deal valued at €105 million ($115.2 million).
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