An investor group led by private equity funds managed by Blackstone Group sold Cloverleaf Cold Storage, the fifth largest cold storage provider, to Americold, the world’s largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses, for $1.2bn. “We welcome Cloverleaf to the Americold family. We have long admired Cloverleaf, the families that founded them and the associates that helped earn them a great reputation in our industry. We have a similar degree of respect for Zero Mountain, which was recently acquired by Cloverleaf. We will accelerate and enhance Cloverleaf’s recently implemented initiatives by leveraging Americold’s commercial platform, institutional quality management and the Americold Operating System,” said Fred Boehler, President and Chief Executive Officer of Americold Realty Trust.