Americold Realty Trust, Inc. and EQT Announce a $1.3 Billion North American Cold Storage Joint Venture

Americold Realty Trust (NYSE: COLD), a leading player in temperature-controlled logistics, has entered into a significant joint venture with EQT, a global investment organization, valued at approximately $1.3 billion. Announced on May 7, 2026, the deal sees EQT acquiring a 70% stake in the joint venture, which will focus on the ownership, operation, and potential development of high-quality cold storage facilities across North America. Americold will contribute 12 cold storage facilities to this venture, which collectively offer about 124 million cubic feet of temperature-controlled capacity and over 400,000 pallet positions. The transaction is expected to close in the third quarter of 2026, pending customary regulatory approvals.

The strategic partnership is poised to create one of the largest cold storage operators in North America. Americold will retain a 30% equity interest in the joint venture and will manage its operations, ensuring continuity and leveraging its expertise in the cold storage sector. The contribution of facilities valued at over $1.3 billion allows Americold to strengthen its balance sheet significantly, with the company expecting to receive around $1.1 billion in net cash proceeds from the transaction. This capital is anticipated to be utilized for debt repayment, enhancing Americold's financial position.

EQT's investment is underpinned by its experience in the temperature-controlled logistics sector, particularly through its ownership of one of Europe's largest cold storage providers. This joint venture aligns with EQT's strategy of investing in core infrastructure assets that exhibit durable characteristics and clear growth opportunities. The partnership is expected to leverage Americold's established customer relationships and operational excellence, positioning the joint venture for long-term success in a sector that is increasingly critical to the supply chain.

The cold storage logistics sector has been experiencing robust growth, driven by rising demand for temperature-sensitive goods, particularly in the food and pharmaceuticals industries. This joint venture is reflective of broader trends in the logistics space, where the need for efficient and reliable cold chain solutions is paramount. As consumer preferences shift toward fresh and frozen products, the demand for high-quality cold storage facilities is expected to continue its upward trajectory.

In conclusion, the formation of this joint venture between Americold and EQT represents a strategic move to capitalize on the growing cold storage market in North America. By combining Americold's operational capabilities with EQT's investment acumen, the partnership is well-positioned to pursue further growth opportunities in the logistics sector. As the demand for cold chain infrastructure continues to rise, this collaboration may serve as a model for future investments in the logistics space, highlighting the importance of strategic partnerships in addressing evolving market needs.