COLD

Americold Realty Trust, Inc. is a real estate investment trust owning and operating temperature-controlled warehouses providing cold storage and logistics services for food and beverage customers. The company operates one of the world's largest networks of temperature-controlled warehouses in North America, Europe, South America, and Asia-Pacific. Americold provides storage, handling, transportation, and logistics services for frozen and refrigerated food products serving food producers, processors, distributors, and retailers. The REIT generates revenues from storage fees, handling charges, and transportation services. Founded in 1931 and headquartered in Atlanta, Georgia, Americold went public in 2018. The company benefits from essential cold chain infrastructure, high barriers to entry including capital intensity and regulatory requirements, structural food industry trends, and long-term customer relationships. Americold operates with significant debt from acquisitions and growth investments. The company faces challenges from operating cost inflation, labor availability, customer concentration, and integration complexities from acquisitions. Americold continues to invest in capacity expansion, automation, technology, and network optimization to serve growing cold storage demand and improve operational efficiency and profitability.