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Americold Announces Purchase of Facility in Houston, Texas to Accommodate Customer Growth

ATLANTA, March 17, 2025 (GLOBE NEWSWIRE) -- Americold Realty Trust, Inc. (NYSE:COLD) (the "Company"), a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition and development of temperature-controlled warehouses, announced today it has signed an agreement to acquire a facility in Houston, Texas for a total investment of approximately $127 million including planned expansion and equipment upgrades. The acquisition will add roughly 35,700 pallet positions to Americold's cold storage warehouse portfolio.

"The catalyst for this acquisition was the award of a large grocery retail contract with one of the world's largest retailers. The new business represents a significant win in our $200M sales initiative. This is a compelling example of Americold's strategy to expand its market-leading presence in the high-turn, retail segment of the cold storage supply chain." said George Chappelle, Chief Executive Officer at Americold. Mr. Chappelle also added, "This acquisition also furthers our strategy to purchase assets in key markets to support customer growth and deliver the world-class service that customers have come to expect from Americold."

Rob Chambers, President, Americas, added "We have a strong existing presence in the Houston area and were recently awarded a large new fixed-commitment contract with a prominent retail customer. By acquiring this facility, we are able to efficiently reposition existing customers' inventory and accommodate this attractive new growth opportunity in the fast-turning retail segment where we already enjoy the highest market share in the cold storage industry. Further, the incremental investment we are making into this facility will allow it to service the mix of Americold's customers in this market. Customers continue to recognize Americold for our commitment to customer service and operational excellence, and our new business pipeline remains robust. Today's announcement underscores Americold's commitment to capturing disciplined and profitable growth opportunities that create long-term value for our shareholders."

The acquired facility was constructed in 2022, has 10.7 million cubic feet, and is located in the Cedar Port Industrial Park in Baytown, Texas. The acquisition includes approximately 16 acres of adjacent land that could be used for future expansion projects.

The Company anticipates the return on this acquisition will ...