Americold and EQT form $1.3 billion cold storage joint venture in North America

Americold Realty Trust has formed a joint venture with EQT's Active Core Infrastructure fund, contributing 12 cold storage facilities valued over $1.3 billion. EQT will hold a 70% interest while Americold retains 30% and operational management, with Americold receiving approximately $1.1 billion in net cash proceeds to repay debt.

Americold Realty Trust and EQT have announced the formation of a new joint venture focused on the ownership, operation, and potential development of cold storage warehouse facilities in North America, according to an official announcement. Americold will contribute 12 cold storage facilities with an aggregate value exceeding $1.3 billion at inception, comprising approximately 124 million cubic feet of temperature-controlled capacity with over 400,000 combined pallet positions. EQT will acquire a 70% interest in the joint venture, while Americold will retain a 30% equity interest and serve as day-to-day manager of the platform.

Americold is a global leader in temperature-controlled logistics, headquartered in the United States. EQT is a global investment organisation with a purpose-driven approach, including ownership of one of Europe's largest cold storage providers. Americold expects to receive approximately $1.1 billion in net cash proceeds from the transaction, which will be used to repay outstanding debt. On a standalone basis, this joint venture is expected to be among the largest operators of cold storage facilities in North America.

This development matters for the cold chain logistics sector, where core infrastructure assets with durable, predictable characteristics present growth opportunities. The partnership reflects conviction in cold chain infrastructure as an essential, resilient sector with strong long-term fundamentals. Beyond initial contributions, the joint venture is expected to serve as a long-term platform for future growth, with Americold providing development support leveraging its customer relationships and industry expertise to identify opportunities for strategically located assets.

For the real estate and logistics industries, the transaction strengthens Americold's balance sheet while aligning with a partner recognising the intrinsic value of mission-critical assets. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals. Eastdil Secured served as Americold's financial advisor, while J.P. Morgan Securities and Morgan Stanley served as financial advisors to EQT and provided financing for the joint venture.