Americold Forms $1.3B JV with EQT; Expects $1.15B Proceeds for Debt Repayment

Americold Realty Trust announced the formation of a $1.33 billion strategic joint venture with EQT, which is expected to generate approximately $1.15 billion in proceeds for debt repayment. The JV involves 12 properties across the U.S., with EQT holding a 70% ownership stake and Americold retaining 30% and serving as the day-to-day manager. Additionally, the company provided a mid-year update, noting signs of stabilization in the industry and reiterating its full-year outlook for Adjusted FFO per share guidance of $1.20 - $1.30, while also announcing a "Fit for Purpose" initiative targeting over $25 million in annualized run-rate savings by Q1 2027.