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Americold Realty Trust (NYSE: COLD) | Company Profile, History, Competitors

Americold Realty Trust (NYSE: COLD) is the largest operator in the cold storage industry. It operates temperature-controlled warehouse assets in the United States and internationally. It had 158 assets and 934 million cubic feet at the end of 2017. As of 2017, it had 2,600 customers around the world.

Americold provides cold storage warehouses and cold storage transportation to food processors, distributors and retailers. It provides a key last mile solution for products that require temperature control.

Business Segments

Americold operates in three main segments.
  • Warehouse (74% of 2017 Revenues): Provides cold storage assets and services.
  • Third-Party Managed (16% of 2017 Revenues): Manages warehouses on behalf of third parties.
  • Transportation (10% of 2017 Revenues): Brokers and manages transportation of frozen and perishable foods for its customers.

Warehouse Segment

Americold provides cold storage in exchange for rent and storage fees. Americold also generates revenues from handling, packaging, and other logistical services. 

Third-Party Segment

Americold manages warehouses on behalf of third parties. Providing third party warehouse management allows its customers to focus on their core business. 

Transportation Segment

Americold manages the transport of frozen and perishable food for its customers. This includes consolidation services with other shipments, freight and dedicated transportation services.

History

Americold was started in the early 20th century as part of the merger of Atlanta Ice and Coal, VersaCold , United Refrigerated Services, Atlas Cold Storage and others. 

in 1997, Vornado Realty Trust and Crescent Real Estate Equities acquired Americold for $111 million in cash and the assumption of $471 million in debt.[1]

In 2004, Yucaipa Companies, a private equity firm, first invested in the company. In 2008, Yucaipa acquired a majority stake in Americold.[2] In 2009, Yucaipa acquired VersaCold and merged it with Americold.[3]

In 2008, Americold went public on the NYSE.

Management

Fred Boehler (CEO): Fred Boehler serves as President and CEO since 2015. Prior, he served as SVP at SUPERVALU and SVP at Borders Group. Fred has also worked at Newell Rubbermaid.

Marc Smernoff (CFO): Marc Smernoff serves as CFO since 2014. Prior, he was a Director at The Yucaipa Companies, an investment firm and investor in Americold,  Marc has also worked at KPMG, Wells Fargo and Ernst & Young.

Financials

 $ USD in millions                  2016  2017
 Revenues  

$1,490  $1,543 
 Operating Income  

 $245   $269 
 Net Income  

($24)  ($29)
 FFO


 $62   $68 
 FFO Per Share


 $0.89   $0.97 

References

Americold Realty Trust
 
  Ticker     NYSE: COLD
  Industry Industrials
  Founded 1986
  Headquarters Atlanta, GA
  Customers 2,600 (2017)
  Revenues
$1.5bn (2017)
  Employees 10,600 (2017)
  Website americold.com