en.Wedoany.com Reported - Americold Realty Trust announced on May 7 that it is contributing 12 temperature-controlled warehouse facilities into a joint venture with investment firm EQT, in a transaction valued at over $1.3 billion. EQT will acquire a 70% interest in the North American joint venture, with Americold retaining the remaining 30%. Americold expects to receive approximately $1.1 billion in net cash proceeds, which it plans to use to pay down existing debt.

These facilities are located across the United States, with a total temperature-controlled capacity of approximately 124 million cubic feet and over 400,000 pallet positions. The two companies stated that the joint venture is expected to be one of the largest cold chain warehouse operators in North America on a stand-alone basis. Americold CEO Rob Chambers said, "This joint venture represents an important strategic step for Americold, significantly strengthening our balance sheet while aligning us with a powerful partner in EQT, who understands the intrinsic value of these mission-critical assets and the growth opportunities inherent in our business."

Atlanta-based Americold will continue to manage the day-to-day operations of the contributed warehouses, a move designed to maintain continuity of customer service while transferring majority ownership of the assets to EQT's Active Core Infrastructure fund. Americold operates over 220 facilities across North America, Europe, Asia-Pacific, and South America, with a total refrigerated volume of approximately 1.4 billion cubic feet, providing temperature-controlled logistics and real estate services to producers, processors, distributors, and retailers.

Alex Greenbaum, Partner and Head of EQT Active Core Infrastructure, said, "We are excited to partner with Americold and invest in a high-quality portfolio of truly mission-critical assets. We believe the platform, underpinned by best-in-class cold storage assets serving blue-chip customers, is well-positioned for long-term growth." The joint venture is expected to serve as a platform for further cold chain warehouse development, with Americold providing development support, leveraging its customer relationships and industry experience to identify potential facilities in key cold chain hubs.

The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

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