Reddy Ice Announces Successful Closing of the Acquisition of Arctic Glacier

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

News Market Reaction – CG

+1.22%

7 alerts

+1.22% News Effect

+$236M Valuation Impact

$19.62B Market Cap

0.1x Rel. Volume

On the day this news was published, CG gained 1.22%, reflecting a mild positive market reaction. Our momentum scanner triggered 7 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $236M to the company's valuation, bringing the market cap to $19.62B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

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

8 metrics

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

Market Reality Check

Price: $53.23 Vol: Volume 1,633,790 is 0.46x...

low vol

$53.23 Last Close

Volume Volume 1,633,790 is 0.46x the 20-day average of 3,534,961, indicating subdued trading. low

Technical Shares at $54.24 are trading below the 200-day MA of $56.97 and about 22.35% under the 52-week high.

Peers on Argus

CG is down 0.46% with light volume. Peers show mixed moves: TPG -4.6%, OWL -1.95...

CG is down 0.46% with light volume. Peers show mixed moves: TPG -4.6%, OWL -1.95%, TROW -0.34%, while NTRS +0.16% and RJF +0.02%, suggesting stock-specific rather than broad sector pressure.

Previous Acquisition Reports

5 past events · Latest: Jan 30 (Positive)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 30	Arctic Glacier deal	Positive	-1.2%	Reddy Ice agrees to acquire Arctic Glacier, expanding North American ice footprint.
Jan 27	Medtech acquisition	Positive	-1.4%	Resonetics signs deal for Resolution Medical, adding neuromodulation capabilities.
Jan 06	Asset acquisition	Positive	+2.5%	Resonetics acquires Med-Ally assets and IP for implantable device platforms.
Nov 12	Defense acquisition	Positive	+2.2%	ARMADA Parent buys Poseidon Industrial, expanding U.S. Navy modernization services.
Sep 29	Manufacturing acquisition	Positive	+1.4%	Resonetics acquires Eden Holdings, adding micro-molding and tooling capabilities.

Pattern Detected

Acquisition-related headlines have produced mixed reactions for CG-linked platforms, with 3 aligned and 2 divergent moves in the past five tagged events.

Recent Company History

Recent news around Carlyle-linked platforms has centered on acquisitions and portfolio expansion. Since Sep 2025, there have been multiple deals across medical devices, defense services, and industrial assets, often framed as strategic capability or footprint expansions. The earlier Jan 30, 2026 agreement to acquire Arctic Glacier and today’s closing both highlight Reddy Ice’s roll-up strategy under SCI and Carlyle’s ongoing realization of portfolio value. Price reactions have varied, indicating that deal structure and broader market tone influenced trading as much as headline strategy.

Historical Comparison

+0.7% avg move · In the last five acquisition-related releases, CG-linked names moved an average of 0.69%. Today’s cl...

acquisition

+0.7%

Average Historical Move acquisition

In the last five acquisition-related releases, CG-linked names moved an average of 0.69%. Today’s closing of the Arctic Glacier deal follows January’s signing announcement, extending a steady pace of M&A-driven portfolio activity.

The Arctic Glacier transaction progressed from a signed agreement on Jan 30, 2026 to today’s announced closing, consistent with Carlyle’s pattern of executing follow-on acquisitions and exits across its portfolio companies.

Market Pulse Summary

This announcement confirms the closing of Reddy Ice’s acquisition of Arctic Glacier from Carlyle, ad...

Analysis

This announcement confirms the closing of Reddy Ice’s acquisition of Arctic Glacier from Carlyle, advancing a roll-up strategy that has produced 22 acquisitions since 2019. The deal combines Reddy Ice’s network of over 115 sites with Arctic Glacier’s 77 facilities and more than 70,000 customers, while satisfying DOJ review through divesting 4 locations and related contracts. Investors may watch how integration, mandated divestitures, and future portfolio realizations influence Carlyle’s results alongside its reported $477 billion in AUM.

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. Not financial advice.

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

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.