Americold and EQT Launch $1.3 Billion JV Covering 124M Cubic Feet Capacity
Americold contributes 12 U.S. cold storage warehouses into a $1.3B joint venture with EQT, which holds 70% while Americold retains 30%. Americold expects $1.1B in net cash proceeds to repay debt and the portfolio spans 124 million cubic feet with over 400,000 pallet positions.
1. Joint Venture Structure
Americold is transferring 12 U.S. cold storage warehouses into a joint venture valued at $1.3 billion, in which EQT will own 70% and Americold will retain a 30% stake while overseeing daily operations of the facilities.
2. Financial Impact
Americold expects to receive approximately $1.1 billion in net cash proceeds from the transaction, which it plans to deploy primarily toward repaying outstanding debt, thereby strengthening its balance sheet and reducing leverage.
3. Asset Portfolio Details
The contributed portfolio encompasses about 124 million cubic feet of temperature-controlled capacity across the U.S., representing over 400,000 pallet positions and positioning the venture among North America’s largest standalone cold storage operators.
4. Strategic Outlook
The partnership positions the venture as a platform for future cold storage expansion, leveraging Americold’s development expertise and EQT’s infrastructure capital to pursue growth opportunities in key cold chain markets.