Americold Realty Trust Completes Initial Investment in SuperFrio to Form Strategic Joint Venture in Brazil
Americold Realty Trust Completes Initial Investment in SuperFrio to Form Strategic Joint Venture in Brazil
03/09/20, 11:03 AM
Location
atlantaAmericold Realty Trust (NYSE: COLD) (the “Company” or “Americold”), the world’s largest publicly traded REIT focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, today announced that the Company has completed its initial investment in SuperFrio Armazéns Gerais SA (“SuperFrio”), a leading temperature-controlled storage operator in Brazil, to form a strategic joint venture. Americold acquired approximately 15% of SuperFrio for BRL $118 million (equivalent to approximately USD $26 million based on current exchange rates) in cash consideration. Under the terms of the agreement, Americold has committed to fund up to an additional BRL $127 million (equivalent to approximately USD $28 million based on current exchange rates), at its pro-rata share for the joint venture’s acquisition and development activity over the next two years.
Company Info
Location
atlanta, georgia, united states
Additional Info
Americold is the world’s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 178 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina, as of December 31st, 2019. Americold’s facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.