AmeriCold unit to acquire warehouses

Sept. 5, 2006
A subsidiary of AmeriCold Realty Trust has reached a definitive agreement with ConAgra Foods Inc to acquire four refrigerated warehouse facilities and the lease on a fifth facility.

A subsidiary of AmeriCold Realty Trust has reached a definitive agreement with ConAgra Foods Inc to acquire four refrigerated warehouse facilities and the lease on a fifth facility, with an option to purchase. The aggregate purchase price is about $190 million.

Combined capacity of these five warehouses is 1.7 million square feet and 48.9 million cubic feet. Three of the facilities are now managed by AmeriCold for ConAgra. They are in Fort Worth TX, Victorville CA, Atlanta GA, Rochelle IL, and York PA.

AmeriCold is owned 47.6% by Vornado Realty Trust, 31.7% by Crescent Real Estate Equities Co, and 20.7% by The Yucaipa Companies LLC. It ranks as North America's leading third-party provider of temperature-controlled warehouse space.

Completion of this transaction is expected in fourth quarter 2006.

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from staff and wire reports

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