PE-backed VersaCold buys cold storage warehouse assets

VersaCold Logistics Services has acquired a portfolio of Canadian cold storage warehouse assets from H&R Real Estate Investment Trust and Crestpoint Real Estate Investments.

VersaCold Logistics Services has acquired a portfolio of Canadian cold storage warehouse assets from H&R Real Estate Investment Trust and Crestpoint Real Estate Investments. No financial terms were disclosed. Vaughan, Ontario-based VersaCold, a cold storage warehousing and food logistics company, was acquired in 2020 by TorQuest Partners in partnership with Investment Management Corp of Ontario and OPTrust.

PRESS RELEASE

TORONTO, July 30, 2021 /CNW/ – VersaCold Logistics Services (“VersaCold”) is pleased to announce that it has completed the acquisition of a strategic portfolio of cold storage warehouse assets from H&R Real Estate Investment Trust (TSX: HR.UN) and Crestpoint Real Estate Investments Ltd. Terms of the transaction were not disclosed.

The warehouses, which VersaCold currently operates, are located across Canada from Newfoundland to British Columbia, and other locations in between. In total, the acquired buildings represent approximately 1.2 million square feet of space.

“This investment is about VersaCold enhancing control over our destiny,” said CEO, Mike Arcamone. “By owning these buildings, we will be able to ensure consistent and reliable service to our customers. We are also excited to leverage this footprint and expand a targeted number of these buildings to augment our capacity and accommodate the underlying growth of our customer partners. We remain fully committed to providing the very best end-to-end cold storage supply chain solution available in Canada.”

About VersaCold Logistics Services
VersaCold is Canada’s largest supply chain solutions company focused exclusively on the handling of temperature sensitive products. VersaCold delivers a suite of fully integrated logistics services through its national network of industry leading facilities, transportation fleet and advanced technologies that set the benchmark for accessibility, information visualization, real-time tracking and inventory management. VersaCold is proud to play a key role in ensuring the safety, quality and freshness of some of North America’s most beloved food brands, protecting the health and wellness of families across Canada from coast to coast. For more information about VersaCold, please visit www.versacold.com.