/C O R R E C T I O N -- Stone Canyon Industries Holdings/

Rhea-AI Summary

Reddy Ice, LLC agreed to acquire Arctic Glacier from Carlyle (NASDAQ: CG); terms were not disclosed.

The deal expands Reddy Ice's North American footprint and is subject to customary closing conditions and regulatory approvals. As part of DOJ antitrust review, Reddy Ice will divest four facilities and related customer contracts in WA, ID, CA, plus contracts in OR and the NY and Boston metro areas.

Scale facts: Reddy Ice operates over 115 sites in the US and Mexico; Arctic Glacier operates 77 facilities and delivers ~2.5 billion pounds of ice annually.

Positive

• Arctic Glacier produces ~2.5 billion pounds of ice annually
• Arctic Glacier operates 77 manufacturing and distribution facilities
• Reddy Ice operates over 115 facilities in US and Mexico
• Expansion adds Canadian footprint to Reddy Ice distribution

Negative

• DOJ antitrust review requires divestiture of four facilities and contracts
• Divestitures affect Mukilteo & Lakewood WA, Coeur d'Alene ID, Brawley CA

/C O R R E C T I O N – Stone Canyon Industries Holdings/ In the news release, Reddy Ice Announces Agreement to Acquire Arctic Glacier, issued by Stone Canyon Industries Holdings over PR Newswire, we are advised by the company that the correct source is Reddy Ice, LLC. The complete, corrected release follows, with additional details at the end:

Reddy Ice Announces Agreement to Acquire Arctic Glacier

DALLAS, Jan. 30, 2026 /PRNewswire/ -- Reddy Ice, LLC ("Reddy Ice") today announced an agreement to acquire Arctic Glacier, LLC, a North American provider of premium ice products and services, from Carlyle (NASDAQ: CG). Terms of the transaction were not disclosed.

Reddy Ice is a portfolio company of SCI Capital Partners LP ("SCI") and a leading manufacturer and distributor of packaged ice in the United States.

"We are proud to welcome Arctic Glacier to the Reddy Ice family," said Lonny Warner, Chief Executive Officer of Reddy Ice, and a member of the Reddy Ice Board of Directors. "We believe the combination of these two outstanding, complimentary companies will allow us to create increased operational efficiency across a diverse footprint in the US, Mexico and now Canada. Our vision is to transform the world's health, welfare, and quality of life by providing superior and exceptional products and services to our customers. We believe this will allow us to deliver on this commitment to our customers and the communities in which we operate and live." 

"This acquisition highlights the value and strength of our business, which has always been passionately focused on exceeding our customers' expectations," said Peter Laport, Chief Executive Officer at Arctic Glacier. "We take pride in our advanced innovative ice solutions, and our strong commitment to top-tier advancements in technology, strong trusted partnerships with our customers, our operational prowess, and excellence in food safety. We have built a thriving, people-first culture that has earned the trust of our exceptional associates and customers. This transaction is a result of the outstanding work we've done and we look forward to continuing to deliver for our customers and employees in partnership with Reddy."

Shawn Malleck, Chairman of the Board and Partner at SCI, said: "This transaction was a clear and compelling opportunity for strategic growth and value for our shareholders. Both companies share a commitment to the highest quality products and services, and the combined financial strength and operational proficiency will allow us to exceed customer expectations over the long term."

Matthew Coles, Managing Director at Carlyle, said: "We are proud of all that Arctic Glacier has accomplished and grateful to the management team and employees for their dedication. We wish the combined company continued success as it enters this exciting next chapter, bringing together two robust and geographically complementary platforms to better serve customers across North America."

The acquisition is subject to customary closing conditions including regulatory approvals. In connection with the DOJ Antitrust Division's review of the transaction, Reddy Ice will be divesting four of its facilities and associated customer contracts in Mukilteo & Lakewood, WA, Coeur d'Alene, ID and Brawley, CA, as well as customer contracts in Oregon and in the New York and Boston metropolitan areas.

For Reddy Ice, Latham & Watkins LLP served as legal advisors and BMO Capital Markets Corp. served as financial advisor.

For Arctic Glacier, Debevoise & Plimpton LLP and Rule Garza Howley LLP served as legal advisors and Deutsche Bank served as financial advisor.

About Reddy Ice

Reddy Ice is the largest manufacturer and distributor of packaged ice products in North America. The Company serves a diverse customer base through a network of over 115 manufacturing, distribution centers and cold storage facilities throughout the US and Mexico. Reddy Ice provides a broad array of product offerings in the marketplace including packaged ice, Craft premium ice and Hydration services and solutions. Distribution is through traditional direct store delivery, warehouse programs, and its proprietary technology, The Ice Factory®. Known for exceptional products, customer service, and industry leading distribution solutions, Reddy Ice serves a wide variety of consumer-packaged goods channels including grocery, mass merchandiser and club stores, convenience stores, drug and dollar stores, as well as non-retail companies such as airlines, construction services, industrial manufacturing, emergency services, and catering and event services.

About Arctic Glacier

Arctic Glacier is a North American provider of premium ice products and services. For over 140 years the company has been manufacturing and distributing packaged ice. Annually, the company produces and delivers over 2.5 billion pounds of premium ice to supermarkets, mass merchants, c-stores, dollar stores, gas stations, liquors stores, as well as many other commercial and industrial businesses.  Arctic Glacier operates 77 manufacturing facilities and distribution centers throughout the US and Canada and services over 70,000 customers.

Correction: An earlier version of this release incorrectly sourced the release to Stone Canyon Industries Holdings.

View original content:https://www.prnewswire.com/news-releases/reddy-ice-announces-agreement-to-acquire-arctic-glacier-302675339.html

SOURCE Reddy Ice, LLC

FAQ

What did Reddy Ice announce about acquiring Arctic Glacier from Carlyle (CG)?

Reddy Ice announced an agreement to acquire Arctic Glacier; terms were not disclosed. According to Reddy Ice, the transaction combines two North American packaged ice businesses and remains subject to customary closing conditions and regulatory approvals including DOJ review.

How will the Reddy Ice acquisition change the combined company’s scale and geography?

The acquisition expands the combined North American footprint and adds Canada. According to Reddy Ice, Arctic Glacier operates 77 facilities and delivers about 2.5 billion pounds of ice annually, complementing Reddy Ice’s network of over 115 US and Mexico sites.

What regulatory steps are required for the Reddy Ice and Arctic Glacier transaction?

The deal is subject to regulatory approvals and customary closing conditions. According to Reddy Ice, the DOJ Antitrust Division is reviewing the transaction and Reddy Ice will divest four facilities and related customer contracts as part of that review.

Which facilities and customer contracts will Reddy Ice divest during the DOJ review?

Reddy Ice will divest four facilities and associated contracts in Mukilteo and Lakewood, WA; Coeur d'Alene, ID; and Brawley, CA. According to Reddy Ice, additional customer contracts in Oregon and the New York and Boston metropolitan areas will also be divested.

Who advised Reddy Ice and Arctic Glacier on the transaction?

Legal and financial advisors were appointed for both parties. According to Reddy Ice, Latham & Watkins served as legal counsel and BMO Capital Markets as financial advisor; Arctic Glacier engaged Debevoise & Plimpton, Rule Garza Howley, and Deutsche Bank.