Overview
- Americold, which announced the joint venture Thursday, will place 12 temperature-controlled warehouses valued at more than $1.3 billion into a new platform with EQT holding 70% and Americold retaining 30% and operations.
- Americold expects about $1.1 billion in net cash from the deal and says it will use the funds to repay debt.
- The companies expect the transaction to close in the third quarter of 2026, pending regulatory approvals and customary conditions.
- Americold raised its 2026 adjusted funds from operations outlook to $1.20–$1.30 per share, topping the $0.92 Wall Street estimate, and its shares rose more than 3% in premarket trading.
- The venture targets growing demand for refrigerated logistics as food producers and retailers move more fresh and frozen goods through temperature-controlled supply chains, creating one of North America's largest cold-storage platforms.