Americold to acquire Nova Cold Logistics
Americold Realty Trust, a REIT focused on the ownership, operation and development of temperature-controlled warehouses, has announced that the company has entered into a definitive agreement to acquire Nova Cold Logistics, based in Canada, for CAD 337 million (USD 254 million) from Brookfield Business Partners.
The closing of the acquisition is subject to customary closing conditions and is expected to occur in the first quarter of 2020. Separately, the company announced today, 28 November 2019, that is has completed the acquisition of two cold storage facilities owned by MHW Group in the USA, one in Maryland and one in Pennsylvania, and exercised an option to purchase the underlying land, for USD 54 million.
“We are excited to expand our infrastructure and presence in Canada and Mid-Atlantic USA with these highly strategic locations and modern facilities that offer compelling growth opportunities. We look forward to welcoming all the new associates to our team,” stated Fred Boehler, president and CEO of Americold. (mw)