Reddy Ice Announces Agreement to Acquire Arctic Glacier

Reddy Ice (CG) agreed to acquire Arctic Glacier, a North American packaged ice provider, expanding Reddy Ice's footprint into Canada and combining two complementary networks.

Rhea-AI Summary

Reddy Ice (CG) agreed to acquire Arctic Glacier, a North American packaged ice provider, expanding Reddy Ice's footprint into Canada and combining two complementary networks.

The deal requires customary closing conditions and regulatory approvals; Reddy Ice will divest four facilities and associated contracts amid a DOJ antitrust review. Terms were not disclosed.

Positive

• Geographic expansion into Canada via Arctic Glacier acquisition
• Scale: Arctic Glacier produces over 2.5 billion pounds of ice annually
• Combined network: Reddy Ice has 115+ facilities; Arctic Glacier operates 77 facilities

Negative

• Regulatory review by DOJ Antitrust Division could delay closing
• Required divestitures of four facilities and associated customer contracts
• Transaction terms undisclosed, leaving deal price and financing impact unclear

Argus Jan 30 session

-1.21% close to close Open Argus

Details

News Market Reaction – CG

In the Jan 30 session, CG declined 1.21%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights Carlyle’s continued use of strategic M&A, with Reddy Ice agreeing to ac...

Analysis

This announcement highlights Carlyle’s continued use of strategic M&A, with Reddy Ice agreeing to acquire Arctic Glacier to create a larger North American packaged ice platform. The deal includes DOJ Antitrust Division review and required divestitures of four facilities and certain customer contracts. Historically, CG-related acquisition news with the acquisition tag has produced an average 1-day move of about 1.89%, suggesting investors closely watch execution quality and regulatory outcomes around such portfolio transactions.

Key Figures

Reddy Ice facilities: over 115 facilities Divested facilities: 4 facilities Arctic Glacier ice volume: over 2.5 billion pounds +2 more

Reddy Ice facilities

over 115 facilities

Manufacturing, distribution and cold storage in US and Mexico

Divested facilities

4 facilities

Reddy Ice divestitures tied to DOJ Antitrust Division review

Arctic Glacier ice volume

over 2.5 billion pounds

Annual premium ice production and delivery

Arctic Glacier facilities

77 facilities

Manufacturing facilities and distribution centers across US and Canada

Arctic Glacier customers

over 70,000 customers

Commercial and industrial customer base

Previous Acquisition Reports

5 past events · Latest: Jan 27

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1. Jan 27

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   Resonetics agreement to buy Resolution Medical to deepen medtech capabilities.

2. Jan 06

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   Resonetics purchase of Med-Ally assets and IP for implantable devices.

3. Nov 12

   Defense acquisition

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   ARMADA Parent acquisition of Poseidon Industrial to expand Navy support.

4. Sep 29

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5. Aug 26

   Software acquisition

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   Carlyle deal to acquire intelliflo from Invesco for up to $200M.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

regulatory approvals, doj antitrust division, antitrust, divesting

4 terms

regulatory approvals regulatory

"The acquisition is subject to customary closing conditions including regulatory approvals."

Regulatory approvals are official permissions from government agencies that a company needs before launching a new product, service, or business activity. They matter because without this approval, the company might not be allowed to operate legally or sell its products, similar to how a driver needs a license to legally drive a car.

doj antitrust division regulatory

"In connection with the DOJ Antitrust Division's review of the transaction, Reddy Ice will be divesting..."

The DOJ Antitrust Division is the U.S. Department of Justice unit that enforces federal competition laws by reviewing mergers, investigating cartels and other unfair practices, and bringing cases to stop behavior that harms competition. For investors, its actions can block or reshape deals, impose large fines, or change who can compete in a market — like a referee whose calls influence company strategy, future profits and share prices.

antitrust regulatory

"In connection with the DOJ Antitrust Division's review of the transaction, Reddy Ice will be divesting..."

Antitrust are laws and government actions that stop companies from unfairly dominating markets, fixing prices, or blocking competitors — think of a referee preventing one player from hogging the ball so the game stays fair. Investors care because antitrust investigations, fines, or orders to change business practices can reduce revenue, raise costs, or limit growth, which directly affects a company’s risk profile and valuation.

divesting financial

"Reddy Ice will be divesting four of its facilities and associated customer contracts..."

Divesting is the act of a company selling or otherwise getting rid of an asset, business unit, or investment so it no longer owns it—think of a homeowner selling a rental property to stop managing it. It matters to investors because divestitures change a company’s cash, debt level and future earnings potential, reveal management’s priorities, and can signal whether the business is focusing on its strongest areas or raising money for other uses.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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.

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

SOURCE Stone Canyon Industries Holdings

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Reddy Ice announce about acquiring Arctic Glacier (CG) on January 30, 2026?

Reddy Ice announced an agreement to acquire Arctic Glacier, expanding its North American footprint. According to the company, the transaction combines two complementary packaged-ice networks to increase operational efficiency across the US, Mexico, and Canada, with customary closing conditions and approvals required.

Will the Reddy Ice acquisition of Arctic Glacier (CG) require regulatory approval?

Yes, the transaction is subject to customary closing conditions and regulatory approvals. According to the company, the deal is under review by the DOJ Antitrust Division, which has prompted planned divestitures of four facilities and associated customer contracts.

Which Arctic Glacier operations and scale did Reddy Ice (CG) acquire?

Arctic Glacier operates 77 manufacturing and distribution facilities and produces over 2.5 billion pounds of ice annually. According to the company, Arctic Glacier serves more than 70,000 customers across the US and Canada in retail and commercial channels.

What divestitures will Reddy Ice (CG) make during the Arctic Glacier acquisition process?

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

Did Reddy Ice (CG) disclose the purchase price or deal terms for Arctic Glacier?

No, the companies did not disclose transaction terms or the purchase price. According to the company, financial terms were not released, so price, financing structure, and immediate shareholder dilution remain unspecified.