{"id":406705,"date":"2020-12-30T16:18:13","date_gmt":"2020-12-30T21:18:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=406705"},"modified":"2020-12-30T16:18:13","modified_gmt":"2020-12-30T21:18:13","slug":"americold-realty-trust-closes-acquisition-of-agro-merchants-group","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/americold-realty-trust-closes-acquisition-of-agro-merchants-group\/","title":{"rendered":"Americold Realty Trust Closes Acquisition of Agro Merchants Group"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Americold Realty Trust Closes Acquisition of Agro Merchants Group<\/b><\/p>\n<p class=\"bwalignc\">\n&#8211; Closes Institutional Private Placement of \u20ac750 Million of Senior Unsecured Notes &#8211;\n<\/p>\n<p>ATLANTA&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nAmericold Realty Trust (NYSE:COLD) (the \u201cCompany\u201d or \u201cAmericold\u201d), the world\u2019s largest publicly traded REIT focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, today announced that the Company has closed its acquisition of Agro Merchants Group.\n<\/p>\n<p>\nIn 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\u2019s portfolio consists of 239 facilities totaling 1.41 billion refrigerated cubic feet, with a global network spanning four continents.\n<\/p>\n<p>\nCitigroup acted as exclusive financial advisor to Americold. King &amp; Spalding LLP and Freshfields Bruckhaus Deringer acted as legal advisors to Americold.\n<\/p>\n<p>\nConcurrently with the close of the Agro transaction, the Company issued 14.2 million of its common shares to funds managed by Oaktree Capital Management, L.P. (\u201cOaktree\u201d) and Agro management. These shares are subject to a lockup period until May 17, 2021. As of December 30, 2020, the Company\u2019s common shares outstanding totaled 251.7 million shares, inclusive of the shares issued to Oaktree and Agro management, 31.9 million forward shares raised through the Company\u2019s October 2020 equity offering and now settled, and 1.9 million forward shares issued on the Company\u2019s $500 million ATM program during the third quarter of 2020 and now settled.\n<\/p>\n<p>\nAs of December 30, 2020, the Company\u2019s remaining three outstanding forward equity tranches are as follows: 6.0 million, 2.4 million, and 4.8 million shares with a net share price of $21.94, $36.18, and $36.64, respectively (net share price as of December 29, 2020). The targeted use of proceeds for each tranche is as follows: fund the previously announced development projects in Connecticut and Pennsylvania, fund the previously announced Arkansas and Calgary expansions, and fund future growth initiatives, respectively.\n<\/p>\n<p>\nThe Company also closed on its institutional private placement of \u20ac750 million of senior unsecured notes on December 30, 2020. This private placement consisted of two tranches: \u20ac400 million of senior unsecured notes that are due January 7, 2031 and carry an interest rate of 1.62% and \u20ac350 million of senior unsecured notes that are due January 7, 2033 and carry an interest rate of 1.65%.\n<\/p>\n<p><b><span class=\"bwuline\">Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nThis press release contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on the Company\u2019s beliefs, assumptions and expectations of its future financial and operating performance and growth plans, taking into account the information currently available to the Company. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause the Company\u2019s actual results to differ materially from the expectations of future results the Company expresses or implies in any forward-looking statements, and you should not place undue reliance on such statements.\n<\/p>\n<p>\nWords such as \u201canticipates,\u201d \u201cbelieves,\u201d \u201ccontinues,\u201d \u201cestimates,\u201d \u201cexpects,\u201d \u201cgoal,\u201d \u201cobjectives,\u201d \u201cintends,\u201d \u201cmay,\u201d \u201copportunity,\u201d \u201cplans,\u201d \u201cpotential,\u201d \u201cnear-term,\u201d \u201clong-term,\u201d \u201cprojections,\u201d \u201cassumptions,\u201d \u201cprojects,\u201d \u201cguidance,\u201d \u201cforecasts,\u201d \u201coutlook,\u201d \u201ctarget,\u201d \u201ctrends,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cwill\u201d and similar expressions are intended to identify such forward-looking statements. The Company qualifies any forward-looking statements entirely by these cautionary factors. Other risks, uncertainties and factors, including those discussed under the heading \u201cRisk Factors\u201d in the Company\u2019s annual report on Form 10-K for the year ended December 31, 2019, in our Quarterly Report for the quarter ended March 31, 2020, in our Form 8-K filed April 16, 2020 and in our Form 8-K filed on October 13, 2020, could cause the Company\u2019s actual results to differ materially from those projected in any forward-looking statements the Company makes. The Company assumes 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.\n<\/p>\n<p><b>About Americold Realty Trust<\/b><\/p>\n<p>\nAmericold is the world\u2019s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 239 temperature-controlled warehouses, with over 1.4 billion refrigerated cubic feet of storage, in North America, Europe, Australia, New Zealand, and South America. Americold\u2019s facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201230005346r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201230005346\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201230005346\/en\/<\/a><\/span><\/p>\n<p>\nAmericold Realty Trust<br \/>\n<br \/>Investor Relations<br \/>\n<br \/>678-459-1959<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investor.relations@americold.com\">investor.relations@americold.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Georgia United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> REIT Logistics\/Supply Chain Management Transport Commercial Building &amp; Real Estate Construction &amp; Property<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Americold Realty Trust Closes Acquisition of Agro Merchants Group &#8211; Closes Institutional Private Placement of \u20ac750 Million of Senior Unsecured Notes &#8211; ATLANTA&#8211;(BUSINESS WIRE)&#8211; Americold Realty Trust (NYSE:COLD) (the \u201cCompany\u201d or \u201cAmericold\u201d), the world\u2019s largest publicly traded REIT focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, today announced that the Company has closed its acquisition of Agro Merchants Group. 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\u2019s portfolio consists of 239 facilities totaling 1.41 billion refrigerated cubic feet, with a global network spanning four continents. Citigroup acted as exclusive financial advisor to Americold. King &amp; Spalding LLP &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/americold-realty-trust-closes-acquisition-of-agro-merchants-group\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Americold Realty Trust Closes Acquisition of Agro Merchants Group&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-406705","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Americold Realty Trust Closes Acquisition of Agro Merchants Group - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/americold-realty-trust-closes-acquisition-of-agro-merchants-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Americold Realty Trust Closes Acquisition of Agro Merchants Group - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Americold Realty Trust Closes Acquisition of Agro Merchants Group &#8211; Closes Institutional Private Placement of \u20ac750 Million of Senior Unsecured Notes &#8211; ATLANTA&#8211;(BUSINESS WIRE)&#8211; Americold Realty Trust (NYSE:COLD) (the \u201cCompany\u201d or \u201cAmericold\u201d), the world\u2019s largest publicly traded REIT focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, today announced that the Company has closed its acquisition of Agro Merchants Group. 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\u2019s portfolio consists of 239 facilities totaling 1.41 billion refrigerated cubic feet, with a global network spanning four continents. Citigroup acted as exclusive financial advisor to Americold. 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