Reddy Ice Announces Successful Closing of the Acquisition of Arctic Glacier

Reddy Ice (NYSE:CG) announced on Feb 18, 2026 the successful closing of its acquisition of Arctic Glacier, a North American packaged ice provider.

Rhea-AI Summary

Reddy Ice (NYSE:CG) announced on Feb 18, 2026 the successful closing of its acquisition of Arctic Glacier, a North American packaged ice provider. The combined company will span a large manufacturing and distribution footprint, while Reddy Ice will divest four facilities and related customer contracts to address DOJ antitrust review.

Transaction terms were not disclosed. This marks Reddy Ice's 22nd acquisition since 2019; advisors included Latham & Watkins and BMO for Reddy Ice, and Debevoise and Deutsche Bank for Arctic Glacier.

Positive

• Combined scale across North America with expanded manufacturing footprint
• Acquisition marks 22nd deal since 2019, showing roll-up momentum
• Arctic Glacier contributes 2.5 billion pounds of annual ice production

Negative

• Required divestiture of four facilities and customer contracts for DOJ review
• Transaction terms were not disclosed, limiting transparency on financial impact

Argus Feb 18 session

+1.22% close to close Open Argus

Details

News Market Reaction – CG

On Feb 18, the day this news came out, CG closed 1.22% above the previous close.

Data tracked by StockTitan Argus for the Feb 18 session.

Key Figures

Reddy Ice acquisitions: 22nd acquisition Facilities divested: 4 facilities Reddy Ice footprint: Over 115 facilities +5 more

Reddy Ice acquisitions

22nd acquisition

Since SCI acquired Reddy Ice in 2019

Facilities divested

4 facilities

Divestitures required by DOJ Antitrust Division review

Reddy Ice footprint

Over 115 facilities

Manufacturing, distribution, and cold storage sites in US and Mexico

Arctic Glacier ice volume

Over 2.5 billion pounds

Annual premium ice production and delivery

Arctic Glacier facilities

77 facilities

Manufacturing and distribution centers in US and Canada

Arctic Glacier customers

Over 70,000 customers

Retail, commercial, and industrial customer base

Arctic Glacier history

Over 140 years

Operating history manufacturing and distributing packaged ice

Carlyle AUM

$477 billion

Assets under management as of December 31, 2025

Previous Acquisition Reports

5 past events · Latest: Jan 30

Same Type 5 events

1. Jan 30

   Arctic Glacier deal

   24h Move

   -1.2%

   Reddy Ice agrees to acquire Arctic Glacier, expanding North American ice footprint.

2. Jan 27

   Medtech acquisition

   24h Move

   -1.4%

   Resonetics signs deal for Resolution Medical, adding neuromodulation capabilities.

3. Jan 06

   Asset acquisition

   24h Move

   +2.5%

   Resonetics acquires Med-Ally assets and IP for implantable device platforms.

4. Nov 12

   Defense acquisition

   24h Move

   +2.2%

   ARMADA Parent buys Poseidon Industrial, expanding U.S. Navy modernization services.

5. Sep 29

   Manufacturing acquisition

   24h Move

   +1.4%

   Resonetics acquires Eden Holdings, adding micro-molding and tooling capabilities.

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

Key Terms

doj antitrust division, assets under management

2 terms

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.

assets under management financial

"With $477 billion of assets under management as of December 31, 2025, Carlyle's purpose is..."

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

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

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DALLAS, Feb. 18, 2026 /PRNewswire/ -- Reddy Ice, LLC ("Reddy Ice") today announced the successful closing of the acquisition of 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 and Mexico.

"We are pleased to welcome Arctic Glacier into the Reddy Ice and SCI family and excited about the value we can unlock as a combined organization—for our customers, our team members, and the broader industry," said Lonny Warner, Chief Executive Officer of Reddy Ice and a member of the Company's Board of Directors. "Both companies bring exceptional people and a strong, winning culture, and I look forward to working closely with our teams to realize the full potential of this combination. This is a truly transformational opportunity that advances our mission to make life better by delivering high-quality, innovative products and services in the communities we serve, while partnering with our customers to exceed expectations and providing our team members with a safe, rewarding place to build their careers."

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.

"I am extremely proud of Lonny and his team for their continued execution and leadership. This transaction represents Reddy Ice's 22^nd acquisition since SCI acquired the company in 2019 and further strengthens the platform as we enter the next phase of growth," said Adam Cohn, Managing Partner at SCI.

Shawn Malleck, Chairman of the Board of Reddy Ice and Partner at SCI, said: "This strategic transaction is highly complementary for both organizations and enhances our operational scale to capitalize on attractive growth opportunities while continuing to deliver innovative solutions for our customers. We are excited about the opportunities ahead and look forward to a seamless integration over the coming year."

"I am immensely proud of what our associates have achieved over the past few years, and this acquisition is a testament to the extraordinary foundation we have built together and opens a new chapter of opportunity for our people and customers to thrive," said Peter Laport, CEO of Arctic Glacier.

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."

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. For additional information about Reddy Ice, please visit https://www.reddyice.com/.

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, liquor 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. For more information about Arctic Glacier visit https://arcticglacier.com/.

About SCI Capital Partners
SCI is a private equity firm headquartered in Los Angeles, CA, focused on control buyouts of market-leading companies that provide mission-critical products and services across the industrial sector. SCI's senior leadership team has invested together for more than 20 years across multiple platforms, with a track record of building and operating businesses across various industries, both domestically and internationally, through organic growth, transformational M&A, and disciplined roll-up acquisition strategies. For more information visit https://www.scicp.com/.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With $477 billion of assets under management as of December 31, 2025, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies, and the communities in which we live and invest. Carlyle employs more than 2,500 people in 27 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

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SOURCE Reddy Ice, LLC

FAQ

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What did Reddy Ice (CG) announce on February 18, 2026 regarding Arctic Glacier?

Reddy Ice announced it closed the acquisition of Arctic Glacier on February 18, 2026. According to the company, the deal combines two major packaged ice platforms and expands manufacturing and distribution reach across the US, Mexico, and Canada while addressing DOJ antitrust conditions.

How will the DOJ review affect Reddy Ice's acquisition of Arctic Glacier (CG)?

The DOJ review requires Reddy Ice to divest four facilities and related contracts to clear antitrust concerns. According to the company, divestitures cover locations in WA, ID, CA, plus customer contracts in OR, New York and Boston metro areas to satisfy regulators.

How large is Arctic Glacier's production footprint joining Reddy Ice (CG)?

Arctic Glacier produces and delivers about 2.5 billion pounds of ice annually and operates 77 facilities. According to Arctic Glacier, it serves over 70,000 customers across the US and Canada, adding substantial volume and geography to Reddy Ice's network.

What is the strategic significance of this acquisition for Reddy Ice (CG)?

The acquisition expands Reddy Ice's operational scale and distribution channels across North America. According to Reddy Ice, combining complementary platforms aims to unlock operational synergies, broaden product offerings, and enhance service for grocery, convenience, and industrial customers.

Did Reddy Ice disclose financial terms for the Arctic Glacier acquisition (CG)?

No, Reddy Ice did not disclose the transaction terms for the Arctic Glacier acquisition. According to the company, advisors on the deal included Latham & Watkins and BMO for Reddy Ice, and Debevoise and Deutsche Bank for Arctic Glacier.

What immediate operational changes did Reddy Ice (CG) announce after closing the deal?

Reddy Ice said it will integrate Arctic Glacier and divest four facilities plus certain customer contracts. According to the company, integration will proceed over the coming year while ensuring continuity for customers and employees.