Canadian Pacific Kansas City and Americold Realty Trust Inc., announced they are exploring co-development opportunities in Mexico as part of a collaboration to optimize temperature-sensitive commodity flows between Canada, the United States, and Mexico.
After forming a strategic collaboration in June 2023, the two companies said they are looking to optimize temperature controlled logistics across North America. As part of that collaboration, CPKC connects North American markets with expedited intermodal freight transportation and temperature-protected intermodal containers, while Americold plays an integral role in connecting production, distribution and consumption along the food supply chain with its cold chain ecosystem.
“Our strategic partnership with CPKC creates a platform that will deliver significant and sustainable supply chain value for existing and new customers in North America,” George Chappelle, chief executive officer at Americold, said. “Exploring opportunities in Mexico is a natural continuation of this collaboration as we look at ways we can attack inefficiencies in the current cold chain.”
Earlier this year, Americold announced plans for co-development with CPKC and broke ground on a 335,000-square-foot, $127 million import export hub, that is scheduled to open in mid-2025. The hub will support importers and exporters of temperature sensitive food between Mexico and the United States. Americold said it plans to invest between $500 million and $1 billion over the next five to 10 years in development projects with CPKC, and its other strategic partner, DP World.