Atlanta-based Americold Realty Trust is making another big acquisition, as the largest cold warehouse giants gobble up other companies in a bid to build end-to-end logistics networks that reach globally.
Americold said Thursday is has agreed to buy Canada-based Nova Cold Logistics for $254 million. The deal expands Americold’s (NYSE: COLD) position in Canada, a growing market with fragmented ownership of cold storage facilities.
Americold currently has three facilities in Canada. Nova Cold’s portfolio will bring it an additional three locations totaling 23.5 million cubic feet with approximately 81,000 pallet positions, and additional acreage for future expansions.
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