Americold Realty Trust Closes Acquisition of Cloverleaf Cold Storage

ATLANTA–(BUSINESS WIRE)–Americold Realty Trust (NYSE: COLD) (the “Company” or “Americold”), the
world’s largest publicly traded REIT focused on the ownership, operation
and development of temperature-controlled warehouses, announced today
that the Company has closed its acquisition of privately-held Chiller
Holdco, LLC (“Cloverleaf Cold Storage” or “Cloverleaf”).

Under the agreement, Americold acquired a portfolio consisting of 22
facilities, of which 21 are owned and one is managed, totaling 132
million refrigerated cubic feet. Americold’s portfolio now totals over
one billion refrigerated cubic feet.

BofA Merrill Lynch and Goldman Sachs & Co. LLC acted as exclusive
financial advisors to Americold. King & Spalding LLP acted as legal
advisor to Americold.

Forward-Looking Statements

This press release contains statements about future events and
expectations that constitute forward-looking statements. Forward-looking
statements are based on the Company’s 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’s 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. Factors that could contribute to these differences
include, but are not limited to, risks related to the integration of
Cloverleaf into the Company’s business and risks related to the three
expansion opportunities related to the acquisition, including failure to
meet budgeted costs, timeframes or stabilized returns in respect thereof.

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. The Company
qualifies any forward-looking statements entirely by these cautionary
factors. Other risks, uncertainties and factors, including those
discussed under the heading “Risk Factors” in the Company’s annual
report on Form 10-K for the year ended December 31, 2018, could cause
the Company’s 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.

About Americold Realty Trust

Americold is the world’s largest publicly traded REIT focused on the
ownership, operation and development of temperature-controlled
warehouses. Based in Atlanta, Georgia, Americold owns and operates 155
temperature-controlled warehouses, with approximately 918.7 million
refrigerated cubic feet of storage, in the United States, Australia, New
Zealand, Canada, and Argentina. Americold’s facilities are an integral
component of the supply chain connecting food producers, processors,
distributors and retailers to consumers.


Americold Realty Trust
Investor Relations
Email: [email protected]

Public Relations
Telephone: 404-426-0832
Email: [email protected]

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