Americold Realty Trust completes initial investment in SuperFrio to form JV in Brazil

Americold Realty Trust, a publicly traded REIT focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, has completed its initial investment in SuperFrio Armazéns Gerais SA, a temperature-controlled storage operator in Brazil, to form a strategic joint venture.

Americold acquired approximately 15 percent of SuperFrio for BRL $118 million ($26 million) in cash consideration. Under the terms of the agreement, Americold has committed to fund up to an additional BRL $127 million ($28 million), at its pro-rata share for the joint venture’s acquisition and development activity over the next two years.

SuperFrio currently operates 16 facilities, totaling 35.1 million cubic refrigerated feet.