logo
Plus   Neg
Share
Email

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

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter has had preliminary talks with TikTok's Chinese owner ByteDance to buy the U.S. operations of the video-sharing app, the Wall Street Journal reported citing people familiar with the matter. Meanwhile, Microsoft has been the only company so far to say publicly it is pursuing TikTok. Pfizer said Friday it reached a multi-year deal with Gilead Sciences to manufacture and supply Gilead's investigational antiviral remdesivir for COVID-19 patients. Ferring Pharmaceuticals US is recalling various nasal sprays citing superpotency or amounts of desmopressin higher than specified, the U.S. Food and Drug Administration announced in a statement. The recall involves all lots on the market of DDAVP Nasal Spray 10 mcg/0.1mL, Desmopressin Acetate Nasal Spray 10 mcg/0.1mL, and STIMATE Nasal Spray 1.5 mg/mL.
Follow RTT