Americold (COLD) forms cold storage joint venture, contributes 12 warehouses and raises $1.1 billion for debt repayment.
Americold Realty Trust (COLD) has formed a cold storage joint venture with EQT's Active Core Infrastructure fund. Americold contributed 12 temperature-controlled warehouses located in the United States, with a total asset value exceeding $1.3 billion. EQT acquired a 70% equity stake in the joint venture, while Americold retained 30% and will serve as the day-to-day manager. Americold received approximately $1.1 billion in net cash proceeds, which it plans to use for debt repayment. This is expected to reduce annual interest expenses by approximately $46 million and lower its leverage ratio by about 0.75x. However, the transaction is projected to decrease Americold's 2026 adjusted FFO (Funds From Operations) by approximately $0.05 per share.
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