Welcome to our dedicated page for Americold Realty Trust news (Ticker: COLD), a resource for investors and traders seeking the latest updates and insights on Americold Realty Trust stock.
Americold Realty Trust, Inc. (NYSE: COLD) is a global leader in temperature-controlled logistics, specializing in the ownership, operation, acquisition, and development of temperature-controlled warehouses. Headquartered in Atlanta, Georgia, Americold is the world's second-largest owner and operator of these specialized warehouses, with approximately 245 facilities spanning 1.5 billion cubic feet of refrigerated space.
Founded with the mission to support the safe and efficient movement of food and other temperature-sensitive products, Americold plays a vital role in the global supply chain, connecting food producers, processors, distributors, and retailers to consumers. The company not only offers storage solutions but also provides value-added services such as supply management and transportation, ensuring a seamless logistics experience for its customers.
In 2022, Americold generated over 80% of its revenue from its extensive operations in the United States. The company also has a significant presence in Europe, Canada, Australia, and New Zealand. As a real estate investment trust (REIT), Americold focuses on generating steady income through its property portfolio while also reinvesting in the business to drive growth and innovation.
Recently, Americold announced a series of leadership updates. Marc J. Smernoff, the Executive Vice President and Chief Financial Officer, will be succeeded by Jay Wells, effective January 15, 2024. Jay Wells brings over 30 years of financial experience, having previously served as Chief Financial Officer at Primo Water and Molson Coors Beverages. These leadership changes reflect Americold's commitment to driving profitable growth and enhancing shareholder value.
Another significant development is Americold's strategic collaboration with Canadian Pacific Kansas City (CPKC) to develop new cold storage facilities. The first of these facilities will be located in Kansas City, Missouri, with an investment of $127 million. This project aims to create nearly 190 new jobs and will support CPKC’s Mexico Midwest Express service, enhancing the food supply chain between the U.S. and Mexico.
Americold's leadership in the industry is further underscored by its continuous expansion and implementation of advanced technologies and practices. The company's dedication to innovation and excellence ensures it remains a pivotal player in temperature-controlled logistics.
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