Ahold Delhaize Automated Facilities Development Overview
Development of Two Automated Facilities for Ahold Delhaize
The Ahold Delhaize highly automated development is an opportunity for Americold to continue to grow
in the retail sector
Development Overview
■COLD is building two automated, retail fulfillment centers for Ahold Delhaize
USA ("ADUSA") that will serve ~750 stores in the Northeast and Mid-Atlantic
-
US
Upon completion, ADUSA will become a top 25 customer
Ahold Delhaize is the 2nd largest grocer in the world with strong investment
grade ratings (S&P: BBB+ / Moody's: Baal) (1)
~$336mm of total development capital investment (2)
■ Lancaster, PA: Commenced operation in Q1 2Q23 and is expected to fully
stabilize in Q2 2024
Plainville, CT: Expected to commence operation in Q3 2Q23 and is expected
to fully stabilize in Q1 2025
Strategic Rationale
■ Provides long-term infrastructure for a top grocer in the US
■ 20-year commitment with highly attractive returns
-
10-12% expected stabilized NOI ROIC for both sites
☐
Grocery retail remains mission-critical in a post COVID-19 world
Developments at a Glance
Facilities
Clear Height
Lancaster, PA and Plainville, CT
~130 feet
Total Cubic Feet
Total Pallet Positions
~23.5mm cubic feet
~59K pallet positions
Lancaster, PA
Note: No assurance can be given that the actual cost or completion dates of any expansions or developments will not exceed our estimate, or that targeted returns will be achieved
Ratings as of Q1 2023
(1)
(2)
Reflects midpoint of Management's estimated cost range to complete as of March 31, 2023
Plainville, CT
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