Reddy Ice is owned by SCI Capital Partners, a Los Angeles-based private equity firm that focuses on control investments in industrial companies.
A Los Angeles-based private equity firm is behind a major consolidation in the North American ice industry after portfolio company Reddy Ice announced it has acquired Arctic Glacier.
Reddy Ice said Wednesday it has closed its acquisition of Arctic Glacier from investment firm Carlyle. Financial terms were not disclosed.
Reddy Ice is owned by SCI Capital Partners, a Los Angeles-based private equity firm that focuses on control investments in industrial companies. The deal marks Reddy Ice’s 22nd acquisition since SCI acquired the company in 2019, according to the firm.
Reddy Ice operates more than 115 manufacturing, distribution and cold storage facilities in the U.S. and Mexico, while Arctic Glacier runs 77 manufacturing facilities and distribution centers and serves more than 70,000 customers across the U.S. and Canada.
In connection with a review by the U.S. Department of Justice’s Antitrust Division, Reddy Ice agreed to divest four facilities and associated customer contracts in Mukilteo and Lakewood, Washington; Coeur d’Alene, Idaho; and Brawley, California. The company will also divest certain customer contracts in Oregon and the New York and Boston metropolitan areas.
Reddy Ice is the largest manufacturer and distributor of packaged ice products in North America. Arctic Glacier, founded more than 140 years ago, produces and delivers more than 2.5 billion pounds of ice annually.
