Americold Announces Strategic Acquisition of Lanier Cold Storage for $82 Million

– Strengthens Position in Key Poultry Market –

– Adds Over 14 Million Refrigerated Cubic Feet of Capacity –

ATLANTA–(BUSINESS WIRE)–Americold Realty Trust (NYSE: COLD) (the “Company” or “Americold”), the
world’s largest publicly traded REIT focused on the ownership, operation
and development of temperature-controlled warehouses, announced today
that the Company has acquired privately-held Lanier Cold Storage for $82
million.

Lanier Cold Storage consists of two temperature-controlled storage
facilities, which total over 14 million refrigerated cubic feet and
approximately 51,000 pallet positions. The facilities, located in
Gainesville, Georgia and Lula, Georgia, are served by major highways and
railways and are designed to supply poultry and other products to
markets across the U.S. The acquisition will complement Americold’s
existing 3.8 million refrigerated cubic foot facility in Gainesville,
which is considered by many to be the “poultry capital of the world.”
The poultry industry contributes over $18.4 billion to the Georgia
economy each year¹.

We welcome Lanier Cold Storage and its associates to the Americold
family. We admire and respect the business that Lanier’s owners – Larry
Glover and Preston Bowen – have built and appreciate their great
reputation in the poultry industry. We intend to enhance Lanier’s
business model by leveraging Americold’s commercial platform and the
Americold Operating System (AOS),” said Fred Boehler, President and
Chief Executive Officer of Americold Realty Trust.

The returns for the acquisition are consistent with the Company’s stated
return expectations for such projects upon integration.

Preston Bowen, Lanier Cold Storage’s Owner and CEO, commented: “When
Larry and I founded Lanier Cold Storage in 2000, our vision was to
create a company that offered cold storage solutions by emphasizing
operational excellence and unwavering customer service. We are thrilled
to partner with Americold and believe that this transaction will provide
enhanced opportunities for both our customers as well as our Lanier Cold
Storage Associates.”

Forward-Looking Statements

This press release contains statements about future events and
expectations that constitute forward-looking statements. Forward-looking
statements are based on the Company’s beliefs, assumptions and
expectations of its future financial and operating performance and
growth plans, taking into account the information currently available to
the Company. These statements are not statements of historical fact.
Forward-looking statements involve risks and uncertainties that may
cause the Company’s actual results to differ materially from the
expectations of future results the Company expresses or implies in any
forward-looking statements, and you should not place undue reliance on
such statements. Factors that could contribute to these differences
include, but are not limited to, risks related to the integration of
Lanier Cold Storage into the Company’s business.

Words such as “anticipates,” “believes,” “continues,” “estimates,”
“expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,”
“plans,” “potential,” “near-term,” “long-term,” “projections,”
“assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,”
“trends,” “should,” “could,” “would,” “will” and similar expressions are
intended to identify such forward-looking statements. The Company
qualifies any forward-looking statements entirely by these cautionary
factors. Other risks, uncertainties and factors, including those
discussed under the heading “Risk Factors” in the Company’s annual
report on Form 10-K for the year ended December 31, 2018, could cause
the Company’s actual results to differ materially from those projected
in any forward-looking statements the Company makes. The Company assumes
no obligation to update or revise these forward-looking statements for
any reason, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking statements,
even if new information becomes available in the future.

About Americold Realty Trust

Americold is the world’s largest publicly traded REIT focused on the
ownership, operation and development of temperature-controlled
warehouses. Based in Atlanta, Georgia, Americold owns and operates 155
temperature-controlled warehouses, with approximately 918.7 million
refrigerated cubic feet of storage, in the United States, Australia, New
Zealand, Canada, and Argentina. Americold’s facilities are an integral
component of the supply chain connecting food producers, processors,
distributors and retailers to consumers.

¹Source: GeorgiaInfo.

Contacts

Americold Realty Trust
Investor Relations
Telephone:
678-459-1959
Email: investor.relations@americold.com

Sean
Tetpon
Public Relations
Telephone: 404-426-0832
Email: mediarelations@americold.com

error: Content is protected !!