Americold Closes $1.3B Cold Storage JV with EQT, Receives $1.1B Cash
COLD sits 49% above its 52-week low of $10.1.
Summary
Americold closed its previously announced North American cold storage joint venture with EQT's Active Core Infrastructure fund. EQT acquired a 70% interest in the partnership, while Americold retains 30% and will manage the platform. The JV owns 12 temperature-controlled warehouses with gross asset value over $1.3 billion. Americold received approximately $1.1 billion in net cash proceeds, which it will use to repay debt and reduce leverage. This follows the company's Q2 2026 results, which included a $309.6 million impairment charge and a net loss of $346.5 million, making the deleveraging particularly timely. The transaction strengthens the balance sheet and establishes a long-term capital partnership for future growth in the cold storage sector.
At the time of this announcement, COLD was trading at $15.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $4.3B. The 52-week trading range was $10.10 to $16.88. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.