Americold Realty Trust completed the acquisition of Newark Facility Management in Newark, New Jersey.
September 31, 2021
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Americold Realty Trust (NYSE:COLD) agreed to acquire Newark Facility Management in Newark, New Jersey for approximately $390 million on August 5, 2021. The transaction is expected to close in September 2021. L. Wayne Pressgrove, Joshua M. Kamin, Amanda A. Sonneborn, Laura S.Huffman, W. Scott Petty, Smitha G.Stansbury, Christina M.Markus, Matthew Nichols, William C.Westbrook, James K.Vines, Les Oakes, Jake Downing, Sumon Dantiki, C. Spencer Johnson III and John M. Anderson of King & Spalding LLP acted as a legal advisor to Americold Realty Trust. Raymond James served as the exclusive financial advisor to Newark Facility Management in connection with the transaction. Raymond James Financial, Inc. (NYSE:RJF) acted as a financial advisor to Newark Facility Management in Newark, New Jersey.
Americold Realty Trust (NYSE:COLD) completed the acquisition of Newark Facility Management in Newark, New Jersey on September 1, 2021.
Americold Realty Trust, Inc. is a real estate investment trust (REIT). The Company is focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. The Company is organized as a self-administered and self-managed REIT. The Company operates through three segments: Warehouse, Third-party managed and Transportation. It operates a global network of approximately 245 temperature-controlled warehouses encompassing approximately 1.5 billion cubic feet, with 197 warehouses in North America, 27 in Europe, 19 warehouses in Asia-Pacific, and two warehouses in South America. The Company holds hold minority interests in two joint ventures, one with SuperFrio, which owns or operates 35 temperature-controlled warehouses in Brazil, and one with the RSA JV, which owns two temperature-controlled warehouses in Dubai. Its handling services optimize its customerâs product movement through the cold chain, including placement, and other recurring handling services.