US-listed cold storage firm Americold Realty Trust has bought Hall’s Warehouse for $480m (€398m), a deal which complements Americold’s footprint in the Pennsylvania and New Jersey markets.
The Hall’s Warehouse portfolio consists of eight facilities in Northern New Jersey, totalling 58m cubic feet and 200,000 pallet positions. The company also provides transportation services that support its warehouse customers.
Atlanta-based Americold owns and operates 185 temperature-controlled warehouses, with over 1bn refrigerated cubic feet of storage, in the US, Australia, New Zealand, Canada, and Argentina.
Fred Boehler, president and CEO of Americold Realty Trust, said: “We are excited to expand our operating footprint in the Northeastern US and advance two development opportunities, which enhance our ability to serve current and new customers while strengthening our network in North America.
“Through the Hall’s acquisition, we have acquired a fully integrated portfolio of high-quality facilities located near the Port of Newark. This portfolio complements our growing scale in a key market that is located within one day’s drive of approximately 30% of the population in the US.”
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