09:46 AM EST, 12/12/2024 (MT Newswires) -- Canadian Pacific Kansas City ( CP ) (CP, CP.TO) and Americold Realty Trust ( COLD ) said Thursday that they will formally explore co-development opportunities in Mexico under their collaboration to optimize temperature-sensitive logistics between the US, Mexico and Canada.

The companies formed the collaboration last year and broke ground on their planned $127 million import-export hub in Missouri in June, the partners said. The facility is scheduled to open in mid-2025 to facilitate the import and export of temperature-sensitive food between Mexico and the US, the partners added.

Americold plans to invest $500 million to $1 billion over the next five to ten years in development projects with its partners Canadian Pacific Kansas City ( CP ) and DP World, the partners said.

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