April 18, 2019
Atlanta-based Americold Realty Trust is acquiring privately-held Chiller Holdco, LLC (Cloverleaf Cold Storage) for $1.24 billion, from Cloverleaf management and an investor group led by private equity funds managed by Blackstone . The deal is expected to close in Q2 2019.
Sioux City, IA-based Cloverleaf is the fifth largest cold storage provider in the U.S. by refrigerated cubic feet, and serves more than 360 customers. The portfolio consists of 22 facilities totaling 132 million refrigerated cubic feet. Cloverleaf’s assets are located in nine states in the Central and Southeastern U.S., which are complementary to Americold’s existing geographic reach and expands the its focus in the growing protein business segment.
Americold’s Fred Boehler says, “We have long admired Cloverleaf, the families that founded them and the associates that helped earn them a great reputation in our industry. We will accelerate and enhance Cloverleaf’s recently-implemented initiatives by leveraging Americold’s commercial platform, institutional quality management and the Americold Operating System (AOS).”
For comments, questions or concerns, please contact Dennis Kaiser