Trailer Magazine

Americold to acquire Cloverleaf Cold Storage for $1.7B

  • Posted on Wednesday 17th, April 2019.

In a move certain to consolidate its position in the refrigerated warehousing sector, Americold Logistics has agreed to buy Cloverleaf Cold Storage.

The deal is reportedly worth $AU1.7 billion.

As the cool chain market continues to ride a global boom, Americold will boost its marketshare in the United States by adding 3.7 million square metres of storage space to its existing facilities.

With a head office in Atlanta, Americold also maintains facilities in Australia, New Zealand, Canada and Argentina.

Americold CEO Fred Boehler said in a statement that the acquisition of Cloverleaf will provide Americold with greater density and diversification in its business and expands the company’s focus on growing its protein segment.

“We will accelerate and enhance Cloverleaf’s recently implemented initiatives by leveraging Americold’s commercial platform,” Boehler said.

This follows the news of the acquisition of Preferred Freezer Services by cold storage warehousing firm, Lineage Logistics, last February.

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