{"id":1004394137,"date":"2020-02-24T05:52:23","date_gmt":"2020-02-24T13:52:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004394137"},"modified":"2025-02-28T00:12:05","modified_gmt":"2025-02-28T08:12:05","slug":"americold-goes-south-for-latest-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/americold-goes-south-for-latest-acquisition\/","title":{"rendered":"Americold Goes South for Latest Acquisition"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay.com<\/em><\/p><\/div>\n

Americold Realty Trust has entered into a joint venture under which it will purchase about 15 percent of SuperFrio Armaz\u00e9ns Gerais SA, a leading temperature-controlled storage operator in Brazil. SuperFrio currently operates 16 facilities, totaling 35.1 million refrigerated cubic feet.<\/p>\n

\n

READ ALSO<\/strong>: Cold Storage Investments Heat Up<\/a><\/p>\n

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The acquisition reportedly is valued around $28 million (about BRL 118 million) in cash consideration. Americold expects to fund the acquisition with a combination of cash on hand and revolver proceeds. The deal includes a provision that gives Americold the option to acquire full ownership of SuperFrio starting in 2023.<\/p>\n

Under the agreement, Americold commits to funding up to an additional $30 million (about BRL 127 million) at its pro-rata share for the joint venture\u2019s acquisition and development activity over the next two years.<\/p>\n

In the meantime, Americold will gain a seat on the board of directors of SuperFrio, which is currently owned by P\u00e1tria Investimentos, a Brazilian private equity firm with about $14 billion of assets under management. The closing is subject to customary conditions and is expected to take place in the first quarter.  <\/p>\n

Americold noted in a prepared statement that Brazil, the world\u2019s ninth-largest economy, is a key market in the global food chain, as a leading exporter of beef, poultry and other commodities.<\/p>\n

As of press time, neither Americold nor SuperFrio had responded to Commercial Property Executive<\/em>\u2019s requests for additional information.<\/p>\n

From north to south<\/h2>\n

Americold, of Atlanta, is the world\u2019s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. In November, Americold went north for an acquisition, buying Nova Cold Logistics<\/a>, a Canadian temperature-controlled warehouse operator, from Brookfield Business Partners L.P. The approximately $254 million transaction encompassed three Nova Cold locations totaling 23.5 million cubic feet, plus additional acreage for future expansion.<\/p>\n

SuperFrio was ranked as the fourth-largest refrigerated warehousing and logistics provider in Latin America and the Caribbean in 2019 by the International Association of Refrigerated Warehouses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Under a joint venture, the company has agreed to purchase a 15 percent stake in a leading Brazilian cold storage operator.<\/p>\n","protected":false},"author":882,"featured_media":1004379167,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,16,21783,21742],"tags":[40206],"class_list":["post-1004394137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-international","category-investment","category-latest","tag-americold"],"acf":[],"yoast_head":"\nAmericold Goes South for Latest Acquisition - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/americold-goes-south-for-latest-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Americold Goes South for Latest Acquisition\" \/>\n<meta property=\"og:description\" content=\"Under a joint venture, the company has agreed to purchase a 15 percent stake in a leading Brazilian cold storage operator.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/americold-goes-south-for-latest-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-02-24T13:52:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-28T08:12:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/retail-news-03.-Image-via-Pixabay.com_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/americold-goes-south-for-latest-acquisition\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/americold-goes-south-for-latest-acquisition\/\",\"name\":\"Americold Goes South for Latest Acquisition - 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