Another one of Americold’s shareholders is pushing the debt-laden REIT to explore its options, including a sale and a new board chair.
Sieve Capital on Tuesday publicly called on Americold’s board to broaden turnaround efforts from selling assets and pursuing joint ventures to reviewing all strategic alternatives.
The private investor said Americold’s plan focuses on “short-sighted transactions” that only keep the board’s chairman, Mark Patterson, and his supporters at the helm.
Meanwhile, Americold has been fielding acquisition offers. Cold storage competitors Constellation Cold and CubeCold in December expressed interest in acquiring the European businesses of the company, which carry $1.5B of Americold’s overall $3.7B…