Americold Realty Trust’s $1.24 Billion Acquisition Of Cloverleaf Cold Storage

Kirkland & Ellis advised Cloverleaf Cold Storage and private equity funds managed by Blackstone Group (NYSE:BX) on the sale of Cloverleaf to Americold Realty Trust (NYSE: COLD) for $1.24 billion.

This acquisition enhances the Company’s position as the leading global owner and operator of temperature-controlled infrastructure while expanding relationships with existing high quality customers. Upon closing, Americold’s portfolio will consist of over one billion refrigerated cubic feet, which provides the Company with greater density and diversification to better service its customers.

BofA Merrill Lynch and Goldman Sachs & Co. LLC are acting as exclusive financial advisors to Americold. King & Spalding LLP is acting as legal advisor to Americold.

Wells Fargo Securities and Deutsche Bank Securities Inc. are acting as exclusive financial advisors to Cloverleaf and Blackstone. Kirkland & Ellis LLP is acting as legal advisor to Cloverleaf and Blackstone.

The Kirkland team was led by transactional partners Shawn O’Hargan and Peter Martelli and associates Arlene Ortiz-Leytte and Michael Ruderman.

Involved fees earner: Peter Martelli – Kirkland & Ellis; Shawn O’Hargan – Kirkland & Ellis; Arlene Ortiz-Leytte – Kirkland & Ellis; Michael Ruderman – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Cloverleaf Cold Storage;