Americold's expansion pays off
For 2020, Atlanta-headquartered Americold reported revenues of USD 1.99 billion, an uptick of 11.4% in comparison to 2019. The company invested both in the extension of its network and in acquisitions, pouring USD 2.6 billion into new units and adding 62 facilities to its global network in the course of 2020.
It entered key strategic markets in Europe and Canada through platform transactions and through two joint ventures in Brazil.
Yet, operating income declined to USD 168.4 million, a decrease of USD 37 million (-28.1%) in comparison to 2019. Warehouse segment revenues were more than USD 1.5 billion for 2020, up USD 172 million or 12.5% from the previous year. (sh)