Americold To Acquire Nova Cold For C$337 Mln - Quick Facts

(RTTNews) - Americold Realty Trust (COLD) announced Thursday it agreed to acquire Canada-based Nova Cold Logistics for C$337 million from Brookfield Business Partners L.P. (BBU), together with its institutional partners. The closing of the acquisition is subject to customary closing conditions and is expected to occur in the first quarter of 2020.

Americold is the world's largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses.

The Nova Cold portfolio consists of three locations totaling 23.5 million cubic feet with approximately 81,000 pallet positions, and additional acreage for future expansions, located in the gateway cities of Toronto, Calgary, and Halifax.

This acquisition expands Americold's position in Canada, where the Company already has a presence through its third-party management business.

Separately, Americold also announced that is has completed the acquisition of two cold storage facilities owned by MHW Group Inc., one in Maryland and one in Pennsylvania, and exercised an option to purchase the underlying land, for $54 million.