Americold to wind down Ahold Delhaize facilities, take $305M charge

Americold Realty Trust (NYSE: COLD) announced it has entered into a Termination and Wind Down Agreement with ADUSA Distribution, LLC, a subsidiary of Ahold Delhaize USA, to cease operations at two automated distribution facilities developed for ADUSA Distribution's use.

Under the agreement, dated July 21, 2026, Americold and ADUSA Distribution will wind down operations at an automated retail distribution center in Lancaster, PA by December 31, 2026, with an optional six-month extension by mutual agreement. A second facility, an automated retail fulfillment center in Plainville, CT, will be idled immediately, except for certain short-term ice production operations.

No termination fees, penalties, or contingent liabilities were assessed to either party, and both parties agreed to a full mutual release of all claims. Separately, the two companies agreed to expand and renew business across other assets in Americold's network.

Americold said it plans to classify both facilities as held for sale in the third quarter of 2026. As of June 30, 2026, the combined net book value of the facilities was approximately $455 million. Based on independent appraisals and management's assessment of fair market value, the company expects to record a non-cash impairment charge of approximately $305 million to $320 million in the second quarter of 2026.

The company stated the impairment charge is not expected to result in immediate cash expenditures. Americold said the wind down and impairment are not expected to affect its previously issued full-year 2026 outlook, as provided in its first-quarter earnings release dated May 7, 2026.

Americold said it is pursuing a sale of the facilities but may also consider other strategic alternatives, including continued ownership, redevelopment, or remediation. The company said it is currently unable to estimate the amount or range of any future cash expenditures that may result from those actions.

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