VERSACOLD SELLS U.S. AND OFFSHORE ASSETS TO AMERICOLD

VANCOUVER, Dec. 15 /CNW/ - We announce today that Versacold International Corporation has sold to Americold Realty Trust all of our non-Canadian assets and operations. The sale includes 54 facilities in the US, nine in Australia, nine in New Zealand and two in Argentina.

"We are excited to refocus on our Canadian roots and the bright future that lies before us," said Joel M. Smith, CEO. "Versacold will be well capitalized and will continue to provide top service and look for new opportunities to grow our business and that of our customers." 

Customers in Canada will experience no impact from the sale.

Brent Sugden, Versacold's CEO from 2001 to 2010 will leave to take on the role of President, Operations of the expanded Americold. Both under the umbrella of The Yucaipa Companies, Versacold and Americold expect to work closely together to the benefit of their customers.

"Versacold is highly visible to our customers, competitors, employees and in the communities where we live and work," said Mr. Smith. "Being visible means we also have to work hard to be the best. That's our goal in every respect and one we'll achieve."

Versacold remains Canada's largest public refrigerated warehousing and logistics company, with 41 sites coast-to-coast, 120 million cubic feet of storage capacity and a comprehensive transportation network.

For further information:

Kevin Karr, Chief Financial Officer
Versacold International Corporation
2115 Commissioner Street
Vancouver, British Columbia, V5L 1A6
Telephone: [phone]
Fax: [phone]

Website: http://www.Versacold.com