Overview
- Americold and EQT, which announced the partnership Thursday, formed a North American cold‑storage venture with EQT owning 70% and Americold 30% while Americold runs the facilities.
- Americold expects about $1.1 billion in cash proceeds and plans to pay down debt that totaled roughly $4.4 billion at the end of March.
- The venture launches with 12 warehouses valued at more than $1.3 billion and about 124 million cubic feet of temperature‑controlled capacity.
- The companies target a third‑quarter 2026 closing, subject to regulatory approvals and other standard conditions.
- Americold reported softer first‑quarter results, including a 1.9% revenue decline, a $13.6 million net loss, and lower adjusted funds from operations, which helps explain the push to monetize assets.