Upon closing, Americold’s portfolio will consist of over 1 billion refrigerated cubic feet.
Americold Realty Trust, Atlanta, entered into a definitive agreement to acquire Cloverleaf Cold Storage, Sioux City, Iowa, for $1.24 billion.
Cloverleaf is a cold storage provider serving over 360 customers. The portfolio to be acquired consists of 22 facilities, 21 of which are owned and one is managed, totaling 132 million refrigerated cubic feet. Cloverleaf’s assets are located in nine states in the Central and Southeastern United States, which are complementary to Americold’s existing geographic reach and expands the company’s focus in the growing protein business segment.