Pontegadea, owned by Amancio Ortega, has acquired the logistics center that Lactalis, the largest dairy producer in the world, has in the Northwood business park in Oshawa, Oshawa, Canada. The billionaire’s investment arm has disbursed 187 million Canadian dollars (about 115 million euros) for this center, the largest that the company has, which has brands such as Puleva in Spain and is the largest producer of dairy products in the world, as published by Green Street News. Said Canadian media maintains that this operation represents one of the largest industrial acquisitions in the country so far in 2026.
The logistics center, with a surface area approaching 120,000 square meters, was inaugurated in 2024. Precisely the same year that Pontegadea acquired in the North American country in Burnaby, southeast of Vancouver. In that case, the facilities consisted of about 900,000 square meters and the family office de Ortega paid around 250 million euros for them.
Two years earlier, in January 2022, Pontegadea made its largest acquisition to date, paying just over €800 million, located in downtown Toronto. The firm acquired the asset from two Canadian pension funds: the Ontario Municipal Employees Fund and the Canada Pension Plan Investment Board. The complex, which had been on sale for a year, was built in the late 1970s and is made up of two skyscrapers, the tallest 180 meters high and 40 floors. Pontegadea also has commercial assets in Montreal and Toronto, acquired last decade.
This operation in Canada has become known weeks after it became public that Ortega’s investment vehicle is in talks for around 850 million euros. If it were to close, it would be the largest office operation in Europe since 2022 and the highest amount that the founder of Inditex paid for a property of this type.
In February, Pontegadea sealed the transfer of €375 million in assets to its Luxembourg subsidiary, Pontegadea Luxembourg. It was created a little over a year and a half ago and since then it has come to bring together all of its European business without counting Spain, the United Kingdom and Portugal. Its subsidiaries in the United States and Canada also depend on it.
This decision by a Luxembourg company is due, as Pontegadea explained at the time, to legislative reasons, since the real estate regulatory framework of that country is very specialized in transactions in this sector. Likewise, it presents greater facilities when carrying out relevant financial operations, which can move hundreds of millions of euros. He family office de Ortega assured that it was not due to tax reasons, since, he maintained, each asset is taxed where it is located.
Amancio Ortega is the richest Spaniard and the 15th in the world with a fortune estimated by Bloomberg at 136 billion dollars, about 117 billion euros.
