Americold Realty Trust entered into a definitive agreement to acquire Canada’s Nova Cold Logistics, together with its institutional partners, for approximately $253 million. The Nova Cold portfolio consists of three locations (Toronto, Calgary, Halifax) totaling 23.5 million ft3 with approximately 81,000 pallet positions.This acquisition, which is expected to close in the first quarter of 2020, expands Americold’s position in Canada.
In related news, Americold completed the acquisition of two cold storage facilities owned by MHW Group Inc. for $54 million. The deal consists of two facilities – one in Chambersburg, Pa., and one in Perryville, Md. – totaling 19 million ft3 and approximately 86,000 pallet positions.