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  4. [8-K] AMERICOLD REALTY TRUST Reports Material Event

Americold Realty Trust (NYSE: COLD) expects $305–$320M non-cash impairment charge

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Americold Realty Trust, Inc. entered a Termination and Wind Down Agreement with ADUSA Distribution, LLC to cease using two purpose-built automated Facilities in Lancaster, PA and Plainville, CT. Operations at the PA Facility will be unwound by December 31, 2026, with an option for a six‑month extension, while the CT Facility is being idled immediately except for short-term ice production.

The Facilities will be classified as held for sale in Q3 2026 and marketed for disposition. As of June 30, 2026, their net book value was approximately $455 million. Based on independent appraisals and management’s assessment of fair value, Americold expects to record a non-cash impairment charge of approximately $305 million to $320 million, recognized in the second quarter of 2026, which is not expected to require immediate cash expenditures.

The Agreement includes no termination fees, penalties or contingent liabilities and provides for a full mutual release of claims, while the parties agreed to expand and renew business in other Americold assets. Americold states the Facilities’ results are not material and does not expect the impairment or wind down to affect its previously provided 2026 full-year financial outlook.

Positive

  • None.

Negative

  • Americold expects a substantial non-cash impairment charge of approximately $305 million to $320 million on Facilities with a $455 million net book value, reflecting lower estimated fair value of these automated distribution assets.

Filing Explained

The company is pursuing a sale of the Facilities but has not ruled out retaining, redeveloping, or remediating them; because the timing and scope remain undecided, it cannot yet estimate related future cash expenditures.

Item 2.06 Material Impairments Financial
The company concluded that a material charge for impairment of assets (goodwill, intangibles, etc.) is required.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Net book value of Facilities approximately $455 million As of June 30, 2026, for the Lancaster, PA and Plainville, CT Facilities
Expected impairment charge approximately $305 million to $320 million Non-cash impairment to be recognized in the second quarter of 2026
PA Facility wind-down target date December 31, 2026 Target date to unwind operations at the Lancaster, PA Facility, with up to six-month extension option
non-cash impairment charge financial
"expects to record a non-cash impairment charge of approximately $305 million"
A non-cash impairment charge is an accounting write-down that lowers the recorded value of an asset on a company’s books when that asset is judged to be worth less than before. It reduces reported profit for the period without using any cash — like lowering the listed price of a used car in your records — and matters to investors because it can shrink earnings, change valuation metrics, and signal potential problems that might affect future cash flow or credit terms.
held for sale financial
"The Company intends to classify the Facilities as held for sale in Q3 2026"
An asset or a group of assets classified as 'held for sale' is one the company intends to sell rather than keep using, and management has committed to that plan with an active effort to find a buyer. Investors care because these items are removed from ongoing operating results and valued differently, offering a clearer view of the business’s continuing performance—think of it like marking a piece of furniture for the garage sale rather than counting it as part of your regular household setup.
Regulation FD regulatory
"The foregoing information is furnished pursuant to Item 7.01, “Regulation FD.”"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
forward-looking statements regulatory
"contains statements about future events and expectations that constitute forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
REIT financial
"the cost and time requirements as a result of our operation as a publicly traded REIT"
A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

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FAQ

What agreement did Americold Realty Trust (COLD) enter regarding the Lancaster and Plainville facilities?
Americold entered a Termination and Wind Down Agreement with ADUSA Distribution, LLC to unwind operations at the Lancaster, PA automated distribution center and idle the Plainville, CT facility, which had been developed for ADUSA’s use, while expanding business in other Americold assets.

How large is the expected impairment charge Americold (COLD) will record on the facilities?
Americold expects to record a non-cash impairment charge of approximately $305 million to $320 million. This charge will be recognized in the second quarter of 2026 and reflects updated fair value assessments of the Lancaster and Plainville Facilities.

What is the net book value of Americold’s (COLD) Lancaster and Plainville facilities?
As of June 30, 2026, the combined net book value of Americold’s Lancaster, PA and Plainville, CT Facilities was approximately $455 million. These assets are intended to be classified as held for sale in Q3 2026 and marketed for potential disposition.

Will Americold (COLD) incur termination penalties from ending the ADUSA facility arrangements?
Americold reports that no termination fees, penalties or contingent liabilities have been assessed to either party. The company and ADUSA Distribution also agreed to a full mutual release of all claims and to expand and renew business in other Americold assets.

How will the facility impairment affect Americold’s (COLD) 2026 outlook and cash flows?
Americold states it does not expect the impairment or wind down to affect its previously provided 2026 full-year financial outlook. The company also indicates the impairment is non-cash and is not expected to result in immediate cash expenditures.

What is the planned wind-down timeline for Americold’s (COLD) Lancaster facility?
Americold and ADUSA Distribution plan to unwind operations at the Lancaster, PA Facility by December 31, 2026, with an option to extend the process for up to six months upon mutual agreement between the parties.
AMERICOLD REALTY TRUST false 0001455863 0001455863 2026-07-21 2026-07-21
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 21, 2026

 

 

AMERICOLD REALTY TRUST, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Maryland   001-34723   93-0295215

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

10 Glenlake Parkway, South Tower, Suite 600

Atlanta, Georgia 30328

(Address of principal executive offices, including zip code)

(678) 441-1400

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading

Symbol(s)

  

Name of each exchange

on which registered

Common Stock, $0.01 par value per share   COLD   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

Item 2.06 – Material Impairments

On July 21, 2026, Americold Realty Trust, Inc. (the “Company”) entered into a Termination and Wind Down Agreement (the “Agreement”) with ADUSA Distribution, LLC, a subsidiary of Ahold Delhaize USA (“ADUSA Distribution”), pursuant to which the Company and ADUSA Distribution have agreed to wind down operations at the Company’s automated retail distribution center located in Lancaster, PA (the “PA Facility”) and will not commence operations at the Company’s automated retail fulfillment center located in Plainville, CT (the “CT Facility” and, together with the PA Facility, the “Facilities”), which were being purpose developed for ADUSA Distribution’s use.

Under the terms of the Agreement, the Company and ADUSA Distribution will work together to unwind operations at the PA Facility by December 31, 2026 (with up to a six-month extension option upon mutual agreement). The CT Facility will be idled immediately, except for certain short-term ice production operations. No termination fees, penalties, or contingent liabilities have been assessed to either party and the parties have agreed to a full mutual release of all claims. In connection with the Agreement, the Company and ADUSA Distribution have agreed to expand and renew business in other assets in the Company’s network.

The Company intends to classify the Facilities as held for sale in Q3 2026 and to market and sell the Facilities. As of June 30, 2026, the net book value of the Facilities was approximately $455 million. As a result of and in connection with the Agreement, based on independent appraisals and management’s assessment of fair market value, the Company expects to record a non-cash impairment charge of approximately $305 million to $320 million, to be recognized in the second quarter of 2026. The impairment charge is not expected to result in immediate cash expenditures. The Company is currently pursuing the disposition of the Facilities, but may also evaluate other strategic alternatives in the future, including continued ownership, redevelopment, and potential remediation activities. Because the nature, timing, and scope of any such actions have not been fully determined, the Company is currently unable in good faith to estimate the amount or range of future cash expenditures that may result from these actions.

Item 7.01 – Regulation FD Disclosure

The results of operations of the Facilities are not material to the Company’s consolidated financial statements in fiscal 2026 or prior periods, and we do not expect the impairment or the wind down operations described under Item 2.06 of this Current Report on Form 8-K (this “Current Report”) to have an impact on the Company’s previously provided outlook for the full-year of 2026 as set forth in the first quarter earnings release dated May 7, 2026.

The foregoing information is furnished pursuant to Item 7.01, “Regulation FD.” The information in Item 7.01 of this Current Report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section and shall not be or be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, regardless of any general incorporation language in such filing.

Forward-Looking Statements

This Current Report contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements, and you should not place undue reliance on such statements. Factors that could contribute to these differences include the following: failure to consummate the joint venture transaction with EQT on the terms or timeline currently anticipated, or at all, due to the failure to satisfy closing conditions, obtain necessary approvals or consents, or other factors beyond our control; failure to achieve the anticipated benefits, synergies or returns from the joint venture transaction with EQT, including as a result of unanticipated costs or liabilities, difficulties in integrating joint venture operations, or the failure of the joint venture to perform in accordance with our expectations; failure to execute on growth strategies and opportunities; geopolitical conflicts, including the ongoing conflicts in the Middle East, and any related or resulting disruptions, including increasing energy costs; rising inflationary pressures, increased interest rates and operating costs; national, international, regional and local economic conditions, including impacts and uncertainty from trade disputes and tariffs on goods

 

imported to the United States and goods exported to other countries; periods of economic slowdown or recession; labor and power costs; labor shortages; our relationship with our associates, the occurrence of any work stoppages or any disputes under our collective bargaining agreements and employment related litigation; the impact of supply chain disruptions; risks related to rising construction costs; risks related to expansions of existing properties and developments of new properties, including failure to meet budgeted or stabilized returns within expected time frames, or at all, in respect thereof; uncertainty of revenues, given the nature of our customer contracts; acquisition risks, including the failure to identify or complete attractive acquisitions or failure to realize the intended benefits from our recent acquisitions; difficulties in expanding our operations into new markets and products; uncertainties and risks related to public health crises; a failure of our information technology systems, systems conversions and integrations, cybersecurity attacks or a breach of our information security systems, networks or processes; risks related to implementation of the new ERP system; risks related to defaults or non-renewals of significant customer contracts; risks related to privacy and data security concerns, and data collection and transfer restrictions and related foreign regulations; changes in applicable governmental regulations and tax legislation; risks related to current and potential international operations and properties; actions by our competitors and their increasing ability to compete with us; changes in foreign currency exchange rates; the potential liabilities, costs and regulatory impacts associated with our in-house trucking services and the potential disruptions associated with our use of third-party trucking service providers for transportation services to our customers; liabilities as a result of our participation in multi-employer pension plans; risks related to the partial ownership of properties, including our JV investments; risks related to natural disasters; adverse economic or real estate developments in our geographic markets or the temperature-controlled warehouse industry; changes in real estate and zoning laws and increases in real property tax rates; general economic conditions; risks associated with the ownership of real estate generally and temperature-controlled warehouses in particular; possible environmental liabilities; uninsured losses or losses in excess of our insurance coverage; financial market fluctuations; our failure to obtain necessary outside financing on attractive terms, or at all; risks related to, or restrictions contained in, our debt financings; decreased storage rates or increased vacancy rates; the potential dilutive effect of our common stock offerings, including our ongoing at the market program; the cost and time requirements as a result of our operation as a publicly traded REIT; and our failure to maintain our status as a REIT.

Words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” “potential,” “near-term,” “long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will” and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements may contain such words. Examples of forward-looking statements included in this Current Report include, but are not limited to, those regarding our 2026 full-year financial outlook. We qualify any forward-looking statements entirely by these cautionary factors. Other risks, uncertainties and factors, including those discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and other reports filed with the Securities and Exchange Commission, could cause our actual results to differ materially from those projected in any forward-looking statements we make. We assume no obligation to update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future except to the extent required by law.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 23, 2026

 

AMERICOLD REALTY TRUST, INC.
By:  

/s/ Christopher J. Papa

Name:   Christopher J. Papa
Title:   Executive Vice President, Chief Financial Officer

Source: View Original Filing on SEC EDGAR

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