Sieve Capital Issues Letter to Shareholders of Americold Realty Trust

Published: 2026-04-17 12:06:13 ET COLD

Published on 04/17/2026 at 12:06 pm EDT

On April 17, 2026, Sieve Capital LLC announced that it has issued an open letter to Shareholders of Americold Realty Trust, Inc., urging the Company shareholders to vote against the re-election of Chairman Mark Patterson and Director Andrew Power at the Company?s Annual Meeting scheduled for May 18, 2026. In addition, Sieve Capital asserts that Patterson and Power have presided over abysmal capital allocation, deficient corporate governance, massive underperformance, and value destruction during their 8 years at the Company and contends that Patterson is inappropriately using the corporate machinery to protect his power nexus at all costs. Further, Sieve Capital highlights concern about boardroom conduct and ethics, referencing issues at Paramount Group, Inc. and Digital Realty Trust, Inc., including allegations of improper board reappointments, ongoing Securities and Exchange Commission investigations, and disregard for corporate governance norms. Furthermore.

Sieve Capital also notes omissions in Company disclosures regarding Patterson?s background and questions the Board?s unanimous support for his re-election, and Sieve believes voting against Patterson and Power will send a clear message to the Company Board about the need for value creation, not entrenchment, and urges shareholders to focus on viable paths to value creation.