Americold acquires Lanier Cold Storage for $82M
May 2, 2019
Lanier Cold Storage consists of two temperature-controlled storage facilities. May 2, 2019
Americold Realty Trust, Atlanta, acquired Lanier Cold Storage, Lula, Ga., for $82 million. Lanier Cold Storage consists of two temperature-controlled storage facilities, which total over 14 million refrigerated cubic feet and approximately 51,000 pallet positions. The facilities, located in Lula and Gainesville, Ga., are designed to supply poultry and other products to markets across the United States. The acquisition will complement Americold’s existing 3.8 million refrigerated cubic foot facility in Gainesville. “We welcome Lanier Cold Storage and its associates to the Americold family. We admire and respect the business that Lanier’s owners – Larry Glover and Preston Bowen – have built and appreciate their great reputation in the poultry industry. We intend to enhance Lanier’s business model by leveraging Americold’s commercial platform and the Americold Operating System (AOS),” says Fred Boehler, president and CEO of Americold Realty Trust. “When Larry and I founded Lanier Cold Storage in 2000, our vision was to create a company that offered cold storage solutions by emphasizing operational excellence and unwavering customer service. We are thrilled to partner with Americold, and believe that this transaction will provide enhanced opportunities for both our customers as well as our Lanier Cold Storage associates,” adds Bowen, owner and CEO of Lanier Cold Storage.