Americold closes acquisition of Agro Merchants Group

Americold closes acquisition of Agro Merchants Group
Agro Merchants Charlotte Image: Courtesy of Agro

Americold Realty Trust today announced that it has closed its acquisition of Agro Merchants Group.

In October, the company had entered into a definitive agreement to acquire privately held Agro Merchants Group from an investor group led by funds managed by Oaktree Capital Management, L.P. for a total of $1.740 billion.

According to Americold, Agro Merchants Group is the fourth largest temperature-controlled warehouse company globally, the third largest in Europe, and the fourth largest in the United States.

In the transaction, Americold acquired a portfolio of 46 facilities, totaling 236 million refrigerated cubic feet, located in 10 countries.

”With the addition of the Agro facilities, Americold’s portfolio consists of 239 facilities totaling 1.41 billion refrigerated cubic feet, with a global network spanning four continents,” the company said in a statement.

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Citigroup acted as exclusive financial advisor to Americold. King & Spalding LLP and Freshfields Bruckhaus Deringer acted as legal advisors to Americold.