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Americold Breaks Ground on Innovative Cold Storage Facility at Port Saint John Leveraging Strategic Partnerships With CPKC and DP World

1. Americold breaks ground on a $75-80 million cold storage hub in Canada. 2. The facility will provide 22,000 pallet positions and improve logistics. 3. Partnerships with DP World and CPKC enhance cargo routing and efficiency. 4. Investment expected to create 100 jobs and contribute $37 million GDP. 5. Facility slated to open in 2026, boosting trade routes and market access.

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Why Bullish?

The investment reflects growth and expansion, previously evidenced by Americold's stock rise following similar projects. The addition of a critical facility in a strategic location will likely drive revenue and investor confidence.

How important is it?

The strategic growth story through the new hub and partnerships positions Americold for substantial future gains, coupled with job creation and GDP contributions providing a solid growth narrative.

Why Long Term?

The facility's opening will create sustainable economic benefits over time, following historical patterns where infrastructure investments resulted in steady increases in operational capacity and long-term profitability.

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May 29, 2025 08:00 ET  | Source: Americold Realty Trust ATLANTA, GA., May 29, 2025 (GLOBE NEWSWIRE) -- Americold Realty Trust (NYSE: COLD), a global leader in temperature-controlled logistics, real estate and value-added services, today breaks ground in Port Saint John, New Brunswick, on its first import-export hub to be built in Canada. Provincial and local leaders join company executives to celebrate this significant investment in New Brunswick, a ceremony held in conjunction with Port Saint John’s Port Days. The new cold storage facility, to become the sixth operated by Americold in Canada, will leverage the maritime logistics capabilities of DP World and the rail logistics solutions of Canadian Pacific Kansas City (TSX:CP) (NYSE:CP) (CPKC). “Developing this facility at Port Saint John marks an important step forward for Americold,” said Rob Chambers, President, Americas at Americold. “The infrastructure investments by DP World and CPKC alongside Port Saint John have attracted major global shipping lines to this location, and we are excited that our world-class cold storage facility and value-added services will support food flows between Central and Eastern Canada, Europe, South America and APAC." Americold will invest between $75 and $80 million to develop this import-export hub, providing approximately 22,000 pallet positions – the equivalent of over 800 full truckloads of temperature-sensitive goods. The facility will enhance trade routes between Canada and global markets, increase export capacity, improve import logistics, and support economic growth through strategic partnerships and infrastructure development. “We’re thrilled to welcome Americold and the opportunities it brings to create jobs on our waterfront,” said Craig Bell Estabrooks, President & CEO of Port Saint John. “Our extensive infrastructure investments have paved the way for leading global partners to thrive in Saint John.” This build is expected to contribute up to $37 million in direct provincial GDP. Opportunities NB will invest up to $1.01 million in the form of a payroll rebate to assist Americold with the creation of up to 100 jobs by the end of 2029. “Americold’s new greenfield facility enhances the Port’s capacity to accommodate growing shipping volumes and strengthens its position as Atlantic Canada’s largest port by volume,” said Luke Randall, Minister responsible for Opportunities NB. “The investment will also improve market access for New Brunswick's exporting companies and create good-paying jobs.” Americold’s cold chain ecosystem plays an integral role in the food supply chain, connecting production, distribution and consumption for many of the largest food companies in the world. The collaboration between Americold, DP World and CPKC aims to create unique customer value in the cold chain. “Our growing collaboration with Americold continues to bring new supply chain solutions to the market,” said Keith Creel, President and Chief Executive Officer of CPKC. “This Port Saint John facility builds on the unique ecosystem that CPKC and Americold are creating to provide our customers an unrivaled cold chain across Canada, the United States, and Mexico.” “Our partnership with Americold and CPKC reflects our shared commitment to transforming supply chain efficiency and sustainability,” said Doug Smith, CEO of DP World Canada. “This investment by Americold is a significant milestone in our joint mission to create seamless, end-to-end logistics solutions.” The Americold facility is slated to open in 2026. About Americold Americold (NYSE: COLD) is a global leader in temperature-controlled logistics and real estate, with a more than 120-year legacy of innovation and reliability. With more than 230 facilities across North America, Europe, Asia-Pacific, and South America – totaling approximately 1.4 billion refrigerated cubic feet – Americold ensures the safe, efficient movement of refrigerated products worldwide. Our facilities are an integral part of the global food supply chain, connecting producers, processors, distributors, and retailers with tailored, value-added services supported by responsive and reliable supply chains. Leveraging deep industry expertise, smart technology, and sustainable practices, Americold delivers world-class service that creates lasting value for our customers and the communities we serve. Visit www.americold.com to learn more. About CPKC With its global headquarters in Calgary, Alta., Canada, CPKC is the first and only single-line transnational railway linking Canada, the United States and México, with unrivaled access to major ports from Vancouver to Atlantic Canada to the Gulf Coast to Lázaro Cárdenas, México. Stretching approximately 20,000 route miles and employing 20,000 railroaders, CPKC provides North American customers unparalleled rail service and network reach to key markets across the continent. CPKC is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpkcr.com to learn more about the rail advantages of CPKC. About DP World DP World is reshaping the future of global trade to improve lives everywhere. Operating across six continents with a team of over 100,000 employees, we combine global infrastructure and local expertise to deliver seamless supply chain solutions. From Ports and Terminals to Marine Services, Logistics and Technology, we leverage innovation to create better ways to trade, minimizing disruptions from the factory floor to the customer’s door. In the Americas, DP World operates with a team of over 16,000 people across 12 countries, driving excellence through a robust network of 14 ports and terminals and more than 40 warehouses. By harnessing our global reach and local expertise, we simplify logistics, enhance operational performance, and redefine the boundaries of what’s possible in global trade. WE MAKE TRADE FLOW. For more insights into how DP World is reshaping global trade, visit our website: www.dpworld.com  About Port Saint John Port Saint John is a rapidly advancing Port striving to be a catalyst for growth, recognized for community leadership. A critical piece of Canada’s national supply chain, the Port boasts a diverse cargo base and unparalleled optionality via three Class I Railways. By championing innovation, promoting meaningful engagement, and investing in infrastructure, Port Saint John aims to be a safe, efficient port of choice while delivering economic prosperity in New Brunswick and beyond. Media Relations 762-821-9631 mediarelations@americold.com

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