Temperature-controlled warehouse operator Americold announced Thursday that it has broken ground on its first import-export hub in Canada.
The Atlanta-based real estate investment trust said the new location will serve Port Saint John in New Brunswick, providing 22,000 pallet positions, or the equivalent of roughly 800 full truckloads, of storage.
Americold (NYSE: COLD) said it will invest between $75 million and $80 million in the facility, which will be served through partnerships with privately held global ports operator DP World and Class I railroad Canadian Pacific Kansas City (CPKC) (NYSE: CP).
“The infrastructure investments by DP World and CPKC alongside Port Saint John have attracted major global shipping lines to this location, and we are excited that our world-class cold storage facility and value-added services will support food flows between Central and Eastern Canada, Europe, South America and APAC,” said President of the Americas at Americold Rob Chambers in a news release.
Construction of the location is expected to generate $37 million in direct GDP to the area and up to 100 permanent jobs by the end of 2029. New Brunswick has pledged $1 million in payroll tax rebates.
The warehouse is expected to open next year.
“Americold’s expansion enhances the Port’s capacity to accommodate growing shipping volumes and strengthens its position as Atlantic Canada’s largest port by volume,” said Luke Randall, New Brunswick’s opportunities minister. “The investment will also improve market access for New Brunswick’s exporting companies and create good-paying jobs.”
This will be the sixth cold storage facility Americold operates in Canada.
Americold’s portfolio includes 1.4 billion cubic feet of refrigerated space at 235 facilities throughout North America, Europe, Asia-Pacific and South America.
The company trimmed its full-year 2025 outlook earlier this month, citing a drastic change in demand among the food producers it serves following April tariff announcements.
“Our growing collaboration with Americold continues to bring new supply chain solutions to the market,” said CPKC President and CEO Keith Creel. “This Port Saint John facility builds on the unique ecosystem that CPKC and Americold are creating to provide our customers an unrivaled cold chain across Canada, the United States, and Mexico.”
