Americold Partners with EQT on $1.3B Cold Storage Deal

Key Details Americold Realty Trust has entered a $1.3 billion joint venture with investment firm EQT, moving 12 cold storage warehouses into the partnership. EQT will hold a 70% stake while Americold retains 30% and maintains day-to-day operations of the facilities across North America. Financial Impact Americold expects to receive approximately $1.1 billion in net cash proceeds from the transaction, which will be used to pay down outstanding debt and strengthen the company's balance sheet. The 12 warehouses contain roughly 124 million cubic feet of temperature-controlled capacity and over 400,000 pallet positions. Why It Matters This venture positions the partnership among the largest cold storage operators in North America. Americold continues managing daily operations, ensuring service continuity for customers while shifting majority ownership to EQT's Active Core Infrastructure fund. The arrangement also creates a development platform for future cold storage expansion in key cold chain markets. Next Steps Americold will provide development support and leverage its customer relationships to identify potential facility acquisitions. EQT recognizes cold chain logistics as a strategic infrastructure investment aligned with long-term growth opportunities in temperature-controlled warehousing.