Americold (NYSE: COLD) forms $1.3B EQT JV, targets $1.1B debt paydown

Rhea-AI Filing Summary

Americold Realty Trust, Inc. is forming a new North American cold storage joint venture with EQT’s Active Core Infrastructure fund. Americold will contribute 12 U.S. cold storage facilities valued at more than $1.3 billion, totaling about 124 million cubic feet and over 400,000 pallet positions.

EQT will own 70% of the joint venture, while Americold retains a 30% equity stake and will manage day-to-day operations. Americold expects about $1.1 billion in net cash proceeds, which it plans to use to repay outstanding debt. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

Positive

• Significant deleveraging capacity: Americold expects approximately $1.1 billion in net cash proceeds from the joint venture, which it plans to use to repay outstanding debt, potentially improving leverage and financial flexibility.
• Asset monetization with ongoing upside: The company is contributing facilities valued at over $1.3 billion yet retaining a 30% equity interest and management role, preserving exposure to future growth of the cold storage platform.
• Strategic partnership with sector specialist: Partnering with EQT’s Active Core Infrastructure fund, which has experience in temperature-controlled logistics, creates a long-term platform aimed at growth and development of high-quality cold storage assets in North America.

Negative

• Execution and integration risk: The company warns it may not achieve expected benefits, synergies, or returns from the joint venture, including potential unanticipated costs, integration challenges, or underperformance of the platform.
• Regulatory and closing uncertainty: The transaction is expected to close in the third quarter of 2026 but remains subject to customary closing conditions and regulatory approvals, creating uncertainty around timing and completion.
• Partial ownership of key assets: After contributing 12 facilities, Americold will hold only a 30% stake, introducing risks associated with partial ownership and reliance on joint venture governance for these assets.

Insights

REIT and infrastructure analyst

Large JV monetizes assets, cuts debt, but adds execution risk.

Americold is contributing 12 U.S. cold storage facilities valued at over $1.3 billion into a joint venture where EQT owns 70% and Americold keeps 30% plus operating control. Americold expects net cash proceeds of about $1.1 billion earmarked for debt repayment.

This structure effectively recycles capital: Americold monetizes a sizable portion of its real estate while maintaining operational involvement and partial economic upside. The filing highlights risks that the joint venture may not deliver anticipated benefits or could face integration challenges, and closing remains subject to customary conditions and regulatory approvals.

If completed as described for the third quarter of 2026, the transaction would significantly strengthen Americold’s balance sheet and create a dedicated platform for potential future development in North American cold storage, though actual outcomes will depend on joint venture performance and broader economic conditions.

8-K Event Classification

3 items: 1.01, 7.01, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

JV asset value: Over $1.3 billion Expected net cash proceeds: $1.1 billion EQT ownership stake: 70% interest +5 more

8 metrics

JV asset value Over $1.3 billion Aggregate value of 12 contributed cold storage facilities at JV inception

Expected net cash proceeds $1.1 billion Net cash Americold expects to receive and use to repay debt

EQT ownership stake 70% interest EQT’s equity share in the new joint venture

Americold ownership stake 30% interest Americold’s retained equity interest in the joint venture

Temperature-controlled capacity 124 million cubic feet Total capacity of the 12 contributed facilities

Pallet positions Over 400,000 positions Combined pallet positions across the JV facilities

Global portfolio size 1.4 billion cubic feet Approximate refrigerated cubic feet across Americold’s 220+ facilities

EQT AUM EUR 269 billion Total assets under management at EQT as of 31 March 2026

Key Terms

joint venture, Active Core Infrastructure fund, temperature-controlled logistics, net cash proceeds, +2 more

6 terms

joint venture financial

"to create a new joint venture with EQT’s Active Core Infrastructure fund"

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

Active Core Infrastructure fund financial

"a new joint venture with EQT’s Active Core Infrastructure fund"

temperature-controlled logistics technical

"Americold, a global leader in temperature-controlled logistics, and EQT"

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.

net cash proceeds financial

"Americold expects to receive approximately $1.1 billion in net cash proceeds"

The actual cash a company receives from a financing or sale after subtracting direct transaction costs such as bank and legal fees, commissions, taxes and other closing expenses. Think of it like selling a house and keeping what’s left after paying the realtor and closing costs — it’s the money that truly lands in the company’s account. Investors watch net cash proceeds because they determine how much cash is available for growth, paying down debt, dividends or share buybacks and therefore affect financial strength and valuation.

partial ownership of properties financial

"risks related to the partial ownership of properties, including our JV investment"

Real Estate Investment Trust (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-generating real estate like shopping malls, apartments, or office buildings. Investors buy shares of the REIT, making it easy for people to invest in real estate without buying property themselves, and it often pays regular dividends from the rent it collects.

Understanding 8-K Material Events →

AMERICOLD REALTY TRUST false 0001455863 0001455863 2026-05-07 2026-05-07

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): May 7, 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)		(IRS Employer Identification No.)

10 Glenlake Parkway, South Tower, Suite 600
Atlanta, Georgia				30328
(Address of principal executive offices)				(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		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 1.01 Entry into a Material Definitive Agreement.

On May 7, 2026, Americold Realty Operating Partnership, LP, a Delaware limited partnership, MHG Gateway Properties, LLC, a New Jersey limited liability company, ART Mortgage Borrower Propco 2010 - 5 LLC, a Delaware limited liability company, Americold New TRS Sub 1, LLC, a Delaware limited liability company, Americold Real Estate, L.P., a Delaware limited partnership, ART Mortgage Borrower Propco 2010 - 4 LLC, a Delaware limited liability company, New Hall’s Warehouse LLC, a New Jersey limited liability company and Americold Russellville, LLC, an Arkansas limited liability company, each a subsidiary of Americold Realty Trust, Inc. (the “Company”) and Snowfall Topco LP, an affiliate of EQT entered into a contribution agreement (the “Contribution Agreement” and the transactions described therein, the “JV Transaction”), which was unanimously approved by the Company’s Board of Directors (the “Board”), upon the unanimous recommendation of the Finance Committee of the Board, to create a new joint venture with EQT’s Active Core Infrastructure fund (“EQT”) focused on the ownership, operation, and potential development of high-quality cold storage warehouse facilities in North America. Under the terms of the Contribution Agreement, the Company will contribute 12 cold storage facilities to the joint venture with an aggregate value in excess of $1.3 billion at inception of the joint venture. The facilities are located across the United States and comprise a total of approximately 124 million cubic feet of temperature-controlled capacity, with over 400,000 combined pallet positions. EQT will acquire a 70% interest in the joint venture, and the Company will retain a 30% equity interest and serve as day-to-day manager of the platform. The Company expects to receive approximately $1.1 billion in net cash proceeds from the transaction, which is expected to be used to repay outstanding debt. The JV Transaction, which is expected to close in the third quarter of 2026, remains subject to customary closing conditions and regulatory approvals.

The foregoing description of the Contribution Agreement is not complete and is qualified in its entirety by reference to the full text of the Contribution Agreement, a copy of which will be filed in an amendment to this Current Report on Form 8-K.

Item 7.01 Regulation FD Disclosure

The Company issued a press release on May 7, 2026, relating to the JV Transaction described in Item 1.01. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The foregoing information and Exhibit 99.1 is furnished pursuant to Item 7.01, “Regulation FD.” The information in Item 7.01 of this Current Report on Form 8-K (this “Current Report”) and the exhibit furnished therewith 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 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 JV Transaction 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 JV Transaction, 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 investment; 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 press release include, but are not limited to, those regarding the JV Transaction. 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.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. It also does not constitute a notice of debt repayment or redemption. Any offer or solicitation in respect of the Company or EQT Active Core Infrastructure will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated May 7, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

* Certain of the exhibits and schedules to this exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The Company agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request.

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: May 7, 2026

Americold Realty Trust, Inc.
By:		/s/ Christopher J. Papa
Name:		Christopher J. Papa
Title:		EVP, Chief Financial Officer

Exhibit 99.1

Americold Realty Trust, Inc. and EQT Announce

a $1.3 Billion North American Cold Storage Joint Venture

ATLANTA and NEW YORK, May 7, 2026 – Americold Realty Trust, Inc. (NYSE: COLD) (“Americold”), a global leader in temperature-controlled logistics, and EQT, a purpose-driven global investment organization, today announced the formation of a new joint venture with EQT’s Active Core Infrastructure fund (“EQT”) focused on the ownership, operation, and potential development of high-quality cold storage warehouse facilities in North America.

Under the terms of the agreement, Americold will contribute 12 cold storage facilities to the joint venture with an aggregate value in excess of $1.3 billion at inception. The facilities are located across the United States and comprise a total of approximately 124 million cubic feet of temperature-controlled capacity, with over 400,000 combined pallet positions. On a standalone basis, this joint venture is expected to be among the largest operators of cold storage facilities in North America. EQT will acquire a 70% interest in the joint venture, and Americold will retain a 30% equity interest and serve as day-to-day manager of the platform to ensure continuity of service and Americold’s proven operational excellence for customers. Americold expects to receive approximately $1.1 billion in net cash proceeds from the transaction, which is expected to be used to repay outstanding debt.

“This joint venture is an important strategic step for Americold, significantly strengthening our balance sheet, while aligning us with a strong partner in EQT who recognizes the intrinsic value of our mission-critical assets and the inherent growth opportunities in our business,” said Rob Chambers, CEO of Americold. “We believe this transaction reflects an attractive valuation for our assets, while positioning Americold to unlock additional value in the future as we look to grow this platform. This transaction is part of our multi-pronged strategy to drive disciplined long-term growth and superior returns for shareholders.”

Beyond the initial contributions to establish the joint venture, Americold and EQT expect the joint venture to serve as a long-term platform for future growth. EQT brings deep experience in temperature-controlled logistics, including through its ownership of one of Europe’s largest cold storage providers, and has a strong track record of scaling and developing essential infrastructure through an active approach to value creation. As part of the agreement, Americold will provide the joint venture with development support, leveraging its longstanding customer relationships and industry expertise to identify opportunities to develop strategically located assets that support key nodes in the cold chain.

“We are excited to partner with Americold to invest in a high-quality portfolio of truly mission-critical assets,” said Alex Greenbaum, Partner and Head of EQT Active Core Infrastructure. “We believe this platform is anchored by best-in-class cold storage assets serving blue chip customers and is well positioned for long-term growth. This investment aligns closely with our strategy of investing in core infrastructure assets with durable, predictable characteristics and clear opportunities for growth. We look forward to further developing, enhancing, and scaling the platform over time.”

“Americold is a leading global cold storage operator, with a high-quality platform, deep customer relationships, and a strong track record of operational excellence,” said Benjamin Bygott-Webb, Partner at EQT. “This partnership reflects EQT’s conviction in cold chain infrastructure as an essential, resilient sector with strong long-term fundamentals. Together, we are well-positioned to build on a strong foundation, pursuing disciplined growth and development opportunities while continuing to serve customers across critical points in the supply chain.”

The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

Eastdil Secured LLC served as Americold’s financial advisor on the transaction. J.P. Morgan Securities and Morgan Stanley & Co. served as financial advisors to EQT and provided financing for the joint venture.

About Americold Realty Trust, Inc.

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.

About EQT

EQT is a purpose-driven global investment organization with EUR 269 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2026, within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, X, YouTube and Instagram

Forward-Looking Statements

This press release 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 our joint venture 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 our joint venture 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 investment; 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 press release include, but are not limited to, those regarding the joint venture transaction with EQT. 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.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. It also does not constitute a notice of debt repayment or redemption. Any offer or solicitation in respect of Americold or EQT Active Core Infrastructure will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Contacts:

Americold Realty Trust, Inc.

Investor Relations

Telephone: 678-459-1959

Email: investor.relations@americold.com

EQT

EQT Press Office, press@eqtpartners.com

FAQ

What joint venture did Americold (COLD) announce with EQT?

Americold announced a new joint venture with EQT’s Active Core Infrastructure fund focused on owning, operating, and potentially developing high-quality cold storage warehouses in North America. Americold contributes 12 U.S. facilities, while EQT acquires a 70% stake and Americold retains 30% and management control.

How large is Americold’s (COLD) joint venture with EQT in dollar terms?

The 12 cold storage facilities Americold will contribute to the joint venture have an aggregate value in excess of $1.3 billion. This sizable portfolio makes the platform, on a standalone basis, one of the largest operators of cold storage facilities in North America at inception.

How much cash will Americold (COLD) receive from the EQT joint venture?

Americold expects to receive approximately $1.1 billion in net cash proceeds from the transaction. The company states it plans to use these proceeds to repay outstanding debt, which could strengthen its balance sheet and reduce interest expense over time.

What ownership stakes will Americold (COLD) and EQT hold in the joint venture?

EQT will acquire a 70% interest in the joint venture, while Americold will retain a 30% equity interest. Americold will also serve as the day-to-day manager of the platform, providing operational leadership and continuity of service for customers across the contributed facilities.

When is the Americold (COLD) and EQT joint venture expected to close?

The transaction is expected to close in the third quarter of 2026. Completion is subject to customary closing conditions and required regulatory approvals, so the actual closing date will depend on satisfying these conditions and receiving necessary consents.

How many facilities and how much capacity are in Americold’s (COLD) JV contribution?

Americold will contribute 12 cold storage facilities located across the United States. These sites comprise approximately 124 million cubic feet of temperature-controlled capacity and offer more than 400,000 combined pallet positions, forming a large-scale North American cold storage platform.

How does the EQT partnership support Americold’s (COLD) growth strategy?

Americold describes the joint venture as part of its multi-pronged strategy for disciplined long-term growth and superior shareholder returns. The platform is intended as a long-term vehicle for future development, leveraging Americold’s customer relationships and EQT’s infrastructure investment expertise in temperature-controlled logistics.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 17.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 18.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.5 KB