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Americold Acquires Cloverleaf Cold Storage from Blackstone-led Group for $1.24B

Atlanta-based Americold Realty Trust is acquiring privately-held Chiller Holdco, LLC (Cloverleaf Cold Storage) for $1.24 billion, from Cloverleaf management and an investor group led by private equity funds managed by Blackstone . The deal is expected to close in Q2 2019.

Sioux City, IA-based Cloverleaf is the fifth largest cold storage provider in the U.S. by refrigerated cubic feet, and serves more than 360 customers. The portfolio consists of 22 facilities totaling 132 million refrigerated cubic feet. Cloverleaf’s assets are located in nine states in the Central and Southeastern U.S., which are complementary to Americold’s existing geographic reach and expands the its focus in the growing protein business segment.

Americold’s Fred Boehler says, “We have long admired Cloverleaf, the families that founded them and the associates that helped earn them a great reputation in our industry. We will accelerate and enhance Cloverleaf’s recently-implemented initiatives by leveraging Americold’s commercial platform, institutional quality management and the Americold Operating System (AOS).”

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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