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Blackstone Group’s $3B bid for Burkle’s Americold gets nixed

Ron Burkle has rejected a $3 billion-plus binding offer for his Americold refrigerated warehouse business from Stephen Schwarzman’s Blackstone Group, The Post had learned.

The Los Angeles billionaire now plans to cash out of the growing business by taking it public, two sources close to the situation said.

A spokesman for Burkle’s Yucaipa declined comment on Blackstone but emphasized that the strategic review continues and that Americold could either be sold or be the subject of an IPO.

Atlanta-based Americold, the world’s No. 1 refrigerated warehousing provider, struggled earlier this decade but has turned things around. With the company back on its feet, Burkle’s Yucaipa is seeking top dollar, sources said.

For Blackstone, this is the second time in a matter of months it has been the final suitor in an auction — and fallen short.

Martin Franklin- and Bill Ackman- controlled Platform Specialty Products rejected Blackstone’s $4 billion-plus offer for its pesticides division, electing instead to split the public company.

Perhaps the rising value of public companies is making it harder for Blackstone to win private auctions at what it considers reasonable multiples.

Blackstone declined to comment.