ATLANTA, GA and DUBAI, United Arab Emirates, March 13, 2023 (GLOBE NEWSWIRE) — Americold Realty Trust, Inc. (NYSE: COLD), the world’s largest publicly traded REIT focused on the ownership, operation, acquisition, and development of temperature-controlled warehouses, announced today a strategic investment into RSA Cold Chain in Dubai. At close, Americold’s investment is $3.9 million for the Company’s share (49%) of RSA Cold Chain equity.
This partnership will provide a scalable, investable operating platform for market entry and expansion in the Middle East and India. RSA Cold Chain is an established cold storage operator in Dubai that began operations in 2017 and is a subsidiary of the parent company RSA Global. Americold will take a minority ownership position in RSA Cold Chain with immediate plans to expand locally, connect RSA to its global network, and pursue strategic development opportunities in the Middle East and surrounding markets. RSA Cold Chain is led by Abhishek Shah, who brings significant value to Americold as a strategic partner to establish a new presence in this critical global market.
Abhishek Shah, RSA Cold Chain’s Co-Founder & CEO, commented, “We are absolutely thrilled to partner with Americold, a global player that can connect the world’s food production markets to our region with a seamless service at origin and destination. We are excited to create a regional brand across our markets that our customers can trust.”
George Chappelle, Americold’s Chief Executive Officer, stated “Our partnership with RSA Cold Chain, combined with our recently announced partnership with DP World, provides us an ideal platform to provide supply chain solutions and cold storage capacity in the Middle East and India. These relationships highlight why Americold is a global leader and preferred partner in the temperature-controlled storage warehousing and logistics industry. We are excited to bring our innovative solutions to the region and support our mission to help our customers feed the world.”
Americold is the world’s largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and/or operates 242 temperature-controlled warehouses, with approximately 1.4 billion refrigerated cubic feet of storage, in North America, Europe, Asia-Pacific, and South America. Americold’s facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.
About RSA Cold Chain
RSA Cold Chain is a HACCP and ISO 22000 certified cold storage arm of RSA Global, a digital supply chain and e-commerce logistics specialist providing global e-commerce companies with seamless access to the booming regional markets of the Middle East, North Africa, and India.
RSA Cold Chain is dedicated to providing reliable end-to-end cold & frozen 3PL solutions to meet the growing demand of the food industry in the UAE and the MENA especially as the surge in population and food consumption has been brought to the region.
Since it started its operations in 2017, RSA Cold Chain has received numerous awards and recognition for its sophisticated infrastructure and operational design serving sectors from packaged food, fresh fruit and vegetables, dairy products, and frozen foods. www.rsa.global.