Americold Realty (COLD) announces $1.7 billion acquisition of Agro Merchants Group.

Americold Realty Trust (COLD) announced today that it has reached an agreement to acquire Agro Merchants Group for $1.74 billion.  Agro Merchants owns 46 properties in 10 countries and is the fourth largest temperature-controlled warehouse company globally and the third largest in Europe.  The acquisition is expected to close late in the fourth quarter of 2020 or early in the first quarter of 2021.

Americold Realty specializes in the ownership and management of temperature-controlled warehouse properties in the U.S. and select international markets. The company's portfolio currently includes 172 owned and leased facilities with 1.1 billion cubic feet of capacity leased to leading food producers and retailers including Conagra, Kroger, Safeway, Sysco and Trader Joe's. Americold has an approximate 26% share of the U.S. market, ranking the company as the second largest player in the consolidating cold-storage industry. As of June 30, 2020, COLD had a total market capitalization of approximately $9.4 billion.