May 7 (Reuters) - Americold Realty Trust said on Thursday it has formed a joint venture with investment firm EQT's Active Core Infrastructure fund that would focus on cold-storage warehouses in North America.
Under the deal, the temperature-controlled warehouse operator will contribute 12 cold storage facilities to the joint venture with a total value of more than $1.3 billion at inception. Americold said it expects to receive about $1.1 billion in net cash proceeds, which it plans to use to repay
its debt.
Shares of Americold Realty Trust rose more than 3% in premarket trading.
Demand for cold-storage space is rising as food companies and retailers look to strengthen supply chains and handle higher volumes of fresh and frozen goods, making temperature-controlled logistics an increasingly critical part of North America's food infrastructure.
The deal, which forms one of the largest cold-storage platforms in North America, gives EQT a 70% stake in the joint venture, while Americold will have a 30% interest and manage daily operations.
The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and other customary closing conditions.
Americold Realty Trust has forecast 2026 adjusted funds from operations between $1.20 and $1.30 per share, above Wall Street estimates of 92 cents, according to data compiled by LSEG.
(Reporting by Apratim Sarkar in Bengaluru; Editing by Leroy Leo)
