Americold buys PortFresh and expands cold store

Savannah, Georgia, USA: Americold Realty Trust, which owns and operates many temperature-controlled sites, has acquired PortFresh Holdings, which serves the fresh produce industry, primarily through the Port of Savannah in Georgia.

Americold plans to build a 15m cubic-foot cold storage site on adjacent land owned by PortFresh. The new site is expected to cost between $55 million and $65 million.

“The Port of Savannah is one of the fastest growing ports in the United States and has seen increased traffic of temperature-controlled trade,” Fred Boehler, president and chief executive of Americold Realty Trust, said in a statement. “With this investment, Americold is fulfilling our customers’ requests to expand into this growing market, which provides an efficient and cost-effective solution to meet their import and export needs.”

Construction is planned to start by mid-2019, with completion earmarked for the first quarter of 2020.

PortFresh founder and chief executive Brian Kastick has joined Americold with the acquisition. “PortFresh has developed the import market for temperature-controlled logistics in the Port of Savannah,” said Kastick.

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