Americold acquires PortFresh Holdings, plans to develop state-of-the-art, temperature-controlled facility
Americold also plans to build a new 15 million-cubic-foot, state-of-the-art cold storage facility on adjacent land owned by PortFresh.
Americold Realty Trust, Atlanta, acquired PortFresh Holdings, LLC, a temperature-controlled operator servicing fresh produce trade primarily through the Port of Savannah, Savannah, Ga.
In connection with the acquisition, Americold also plans to build a new 15 million-cubic-foot, state-of-the-art cold storage facility on adjacent land owned by PortFresh. The total cost of the acquisition, including approximately 163 acres of contiguous land, is approximately $35 million. The cost of the planned new build is expected to be $55-$65 million.