Americold Realty and EQT form $1.3 billion cold storage venture
Updated
Updated · MarketWatch · May 7
Americold Realty and EQT form $1.3 billion cold storage venture
15 articles · Updated · MarketWatch · May 7
EQT will buy a 70% stake and Americold keep 30% in the North American warehouse venture, with Americold expecting about $1.1 billion in cash proceeds.
Americold said it plans to use the proceeds to reduce debt, while the partnership will operate and develop temperature-controlled facilities across North America.
The deal comes as the US cold-storage sector faces post-pandemic oversupply; Newmark said fourth-quarter vacancy reached a 20-year high of 6.9%.
Why bet $1.3 billion on a cold storage market that is currently in a 'deep freeze'?
Is the future of cold storage driven by life-saving medicines rather than frozen pizzas?
Can this new venture's expertise outmaneuver rivals pouring billions into warehouse automation and AI?