Americold Expands European Retail Operations With Addition of Jerónimo Martins

Americold (NYSE:COLD) announced a multi-year logistics agreement with Jerónimo Martins, Portugal’s leading retail group, expanding its European retail operations.

Rhea-AI Summary

Americold (NYSE:COLD) announced a multi-year logistics agreement with Jerónimo Martins, Portugal’s leading retail group, expanding its European retail operations.

Americold will handle about 12 million frozen product cases annually for roughly 300 stores from its enhanced Lisbon hub, adding 80+ jobs and increasing site workforce by over 40%.

Positive

• Multi-year Jerónimo Martins contract covering ~12 million frozen cases annually
• Service scope spans roughly 300 retail stores across Portugal
• Lisbon facility upgrades increase cold storage and throughput capacity
• European retail portfolio strengthened with second large retail customer win in a year
• More than 80 new jobs created, workforce up over 40%

Negative

• None.

Argus May 21 session

+0.21% close to close Open Argus

Details

News Market Reaction – COLD

On May 21, the day this news came out, COLD closed 0.21% above the previous close.

Data tracked by StockTitan Argus for the May 21 session.

Market Context

This announcement highlights a multi-year expansion of Americold’s European retail platform, managin...

Analysis

This announcement highlights a multi-year expansion of Americold’s European retail platform, managing roughly 12 million frozen cases annually for about 300 Jerónimo Martins stores from its Lisbon cold chain hub. The deal builds on prior European wins like PLUS and follows a Q1 2026 backdrop of $629.9M revenue but a $13.6M net loss. Investors may monitor contract execution, utilization at the upgraded Lisbon facility, and how added scale influences margins and future earnings reports.

Key Figures

Annual frozen cases: 12 million cases Retail stores served: 300 stores New jobs created: More than 80 jobs +5 more

Annual frozen cases

12 million cases

Cases of frozen products managed annually under Jerónimo Martins deal

Retail stores served

300 stores

Approximate number of Jerónimo Martins retail stores in Portugal

New jobs created

More than 80 jobs

Positions added at Americold’s Lisbon facility

Workforce expansion

Over 40% increase

Lisbon site workforce growth tied to new operations

Q1 2026 revenue

$629.9M

Q1 2026 revenue, up 0.1% year over year

Q1 2026 net loss

$13.6M

Q1 2026 net loss, –$0.05 per share

Adjusted FFO per share

$0.29

Q1 2026 Adjusted FFO per diluted share, down 14.7% YoY

Core EBITDA

$136.8M

Q1 2026 Core EBITDA, down 7.3% year over year

Historical Context

5 past events · Latest: May 14

5 events

1. May 14

   Logistics expansion deal

   24h Move

   -2.1%

   Expanded frozen logistics relationship with PLUS across the Netherlands.

2. May 07

   Strategic joint venture

   24h Move

   +17.9%

   Announced $1.3B North American cold storage JV with EQT and cash proceeds.

3. May 07

   Quarterly earnings/JV

   24h Move

   +17.9%

   Q1 2026 results with modest growth, net loss, and leverage plus JV details.

4. Apr 23

   Activist presentation

   24h Move

   +0.3%

   Sieve Capital outlined case for board changes at Americold.

5. Apr 14

   Sustainability update

   24h Move

   +0.6%

   Reported emissions cuts, renewable energy generation, and efficiency investments.

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

Key Terms

temperature-controlled logistics, store case pick fulfillment, cold chain hub, throughput capacity

4 terms

temperature-controlled logistics technical

"Americold, a global leader in temperature-controlled logistics, real estate..."

Temperature-controlled logistics is the system of storing, transporting and handling goods under specific temperature ranges—like a refrigerated pipeline for medicines, food or chemicals—to keep them safe and effective. Investors care because these services reduce spoilage, meet regulatory rules, and command higher fees and capital investment, so a company’s ability to manage or offer reliable temperature-controlled logistics affects revenue, costs and risk exposure.

store case pick fulfillment technical

"Americold will manage the storage and store case pick fulfillment of approximately..."

Store case pick fulfillment is the process of selecting and preparing whole cases or boxes of products directly from a store’s shelves to satisfy orders, rather than picking individual items. For investors, it signals a cost- and time-efficient way retailers and grocers move merchandise to customers or distribution centers—like grabbing full boxes off a shelf instead of packing single items—which can lower labor costs, speed delivery, and affect inventory turnover and margins.

cold chain hub technical

"Operations are centralized at Americold’s Lisbon facility, reinforcing its role as a strategic cold chain hub..."

A cold chain hub is a specialized facility and logistics network that stores and moves temperature-sensitive products—like vaccines, biologics, fresh food, or chemicals—while keeping them within strict temperature ranges. Think of it like a high-tech refrigerated relay station that prevents spoilage or loss of potency; for investors it matters because reliable cold storage reduces product waste, enables access to regulated markets, and supports revenue stability for companies handling perishable or temperature-dependent goods.

throughput capacity technical

"including refurbishing cold storage chambers and increasing throughput capacity."

Throughput capacity measures the maximum amount of product, work, or transactions a business process or facility can handle in a given time (for example, units per hour or transactions per day). Investors care because it shows how much revenue a company could potentially generate without adding resources; like a highway’s number of lanes, higher throughput capacity lets a business serve more customers and scale sales more quickly, while bottlenecks limit growth and increase costs.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

ATLANTA and LISBON, Portugal, May 21, 2026 (GLOBE NEWSWIRE) -- Americold, a global leader in temperature-controlled logistics, real estate, and value-added services focused on the ownership, operation, acquisition, and development of temperature-controlled facilities, today announced a new long-term relationship with Jerónimo Martins, Portugal’s leading retail group, further advancing its growing portfolio of retail operations across Europe.

“Supporting key customer partnerships and expanding our retail business globally are key growth priorities for Americold in 2026,” said Rob Chambers, Chief Executive Officer at Americold. “This marks our second large retail customer win in Europe over the past year and reflects continued growth of our platform, building on decades of experience serving large retail customers globally. Our expertise in this operationally intense segment of the market is an important differentiator for Americold and positions us to capture additional long-term growth opportunities with both retail and QSR customers.”

Under the multi-year agreement, Americold will manage the storage and store case pick fulfillment of approximately 12 million cases of frozen products annually, serving roughly 300 retail stores across Portugal.

“Americold’s proven expertise in temperature-controlled warehousing and its ability to ensure operational reliability were key factors in this relationship,” said Ricardo Mestre, Logistics Director, Jerónimo Martins. “Their capacity to scale, invest in infrastructure, and tailor operations to our needs makes Americold a strong partner in supporting our store network across Portugal.”

Operations are centralized at Americold’s Lisbon facility, reinforcing its role as a strategic cold chain hub for the Portuguese retail market. More broadly, this work reflects continued momentum in Americold’s European business, driven by growing demand from leading retailers across the region.

To support these operations, Americold has enhanced the Lisbon facility, including refurbishing cold storage chambers and increasing throughput capacity. These investments highlight Americold’s ability to respond quickly and deliver a combination of operational expertise, technology, and tailored solutions for large‑scale retail networks.

“Americold’s ability to deliver high‑performance solutions for leading retailers is reflected in this new relationship with Jerónimo Martins,” said Richard Winnall, President, International at Americold. “At this scale, store‑ready fulfillment requires precision and consistency. This is where our standardized operating model and experienced teams create meaningful value, enabling scalable execution for customers like Jerónimo Martins.”

The collaboration has also created more than 80 new jobs, expanding the site’s workforce by over 40% and reinforcing Americold’s commitment to supporting local employment and operational excellence.

About Americold

Americold (NYSE: COLD) is a global leader in temperature-controlled logistics and real estate, with a more than 120-year legacy of innovation and reliability. With more than 220 facilities across North America, Europe, Asia-Pacific, and South America – totaling approximately 1.4 billion refrigerated cubic feet – Americold ensures the safe, efficient movement of refrigerated products worldwide.

Our facilities are an integral part of the global food supply chain, connecting producers, processors, distributors, and retailers with tailored, value-added services supported by responsive and reliable supply chains. Leveraging deep industry expertise, smart technology, and sustainable practices, Americold delivers world-class service that creates lasting value for our customers and the communities we serve. Visit www.americold.com to learn more.

Americold Contacts:

Investor Relations
Telephone: 678-459-1959
Email: investor.relations@americold.com
Media Relations
Telephone: 762-821-9631
Email: mediarelations@americold.com

FAQ

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

What did Americold (NYSE:COLD) announce about its new partnership with Jerónimo Martins on May 21, 2026?

Americold announced a new multi-year logistics relationship with Jerónimo Martins, Portugal’s leading retail group. According to Americold, the agreement expands its European retail operations and leverages its Lisbon facility as a strategic cold chain hub serving the Portuguese retail market.

How many frozen product cases will Americold handle annually for Jerónimo Martins under the new COLD agreement?

Americold will manage approximately 12 million frozen product cases annually for Jerónimo Martins. According to Americold, this volume supports store case pick fulfillment and centralized frozen storage for the retailer’s network, reinforcing Lisbon as a key temperature-controlled logistics center.

How many Jerónimo Martins stores in Portugal will Americold serve through its Lisbon facility?

Americold will serve roughly 300 Jerónimo Martins retail stores across Portugal from its Lisbon facility. According to Americold, operations include storage and store case pick fulfillment of frozen products, supporting a large-scale, store-ready supply chain for the Portuguese retail market.

What investments has Americold (COLD) made at its Lisbon facility for the Jerónimo Martins contract?

Americold has enhanced its Lisbon facility by refurbishing cold storage chambers and increasing throughput capacity. According to Americold, these investments support the Jerónimo Martins relationship and demonstrate its ability to scale infrastructure for large, operationally intense retail logistics contracts.

How does the Jerónimo Martins agreement impact Americold’s European retail growth strategy?

The Jerónimo Martins agreement advances Americold’s European retail growth by adding another large retail customer. According to Americold, it is the second major European retail win in a year, supporting its 2026 focus on expanding global retail partnerships and long-term growth opportunities.

How many new jobs will Americold create in Lisbon through the Jerónimo Martins relationship?

The collaboration with Jerónimo Martins has created more than 80 new jobs at Americold’s Lisbon site. According to Americold, this expands the facility’s workforce by over 40%, underscoring its commitment to local employment and strengthening operational capabilities in Portugal.

Why did Jerónimo Martins choose Americold as its temperature-controlled logistics partner in Portugal?

Jerónimo Martins selected Americold for its proven temperature-controlled warehousing expertise and operational reliability. According to Americold, the retailer valued Americold’s ability to scale, invest in infrastructure, and tailor operations to support its extensive Portuguese store network efficiently.