Atlanta, Georgia, USA-headquartered Americold, a global leader in temperature-controlled logistics, has signed an agreement to acquire a facility in Houston, Texas for a total investment of approximately $127 million including planned expansion and equipment upgrades. The purchase will add roughly 35,700 pallet positions to Americold’s cold storage warehouse portfolio.
The facility was constructed in 2022, occupies 10.7 million cubic feet of space, and is located in the Cedar Port Industrial Park in Baytown. The deal includes approximately 16 acres of adjacent land that could be used for future expansion projects.
“The catalyst for this acquisition was the award of a large grocery retail contract with one of the world’s largest retailers. The new business represents a significant win in our $200 million sales initiative. This is a compelling example of Americold’s strategy to expand its market-leading presence in the high-turn, retail segment of the cold storage supply chain.” said CEO George Chappelle.
President Rob Chambers added “We have a strong existing presence in the Houston area and were recently awarded a large new fixed-commitment contract with a prominent retail customer. By acquiring this facility, we are able to efficiently reposition existing customers’ inventory and accommodate this attractive new growth opportunity in the fast-turning retail segment where we already enjoy the highest market share in the cold storage industry. Further, the incremental investment we are making into this facility will allow it to service the mix of Americold’s customers in this market.”
