Cold storage giant Lineage Logistics LLC has unveiled details about 10 temperature-controlled operations it acquired in the past 18 months, expanding its sprawling network as demand for food and beverage products stays elevated throughout the lingering pandemic.
The move follows a string of public moves by Novi, Michigan-based Lineage to grow its footprint around the globe, including news in July that it had launched coverage in Canada after buying Toronto-based Ontario Refrigerated Services Inc. Supported by the deep pockets of its private equity owner, the firm has aggressively rolled up capacity in the sector, adding firms like Henningsen Cold Storage Co. and Maines Paper & Food Service in May, Emergent Cold and Preferred Freezer Services in 2019, and other deals in the previous years.
Lineage now says it has also had the 10 additional acquisitions, comprising 24 locations across the U.S. spanning over 5.5 million square feet. Terms of the deal were not disclosed, but they have all either been successfully integrated or are on track to be integrated by year end.
The company says its recent acquisition activity in the U.S. is in response to growing demand for cold storage, which is supported by strong population growth, changing consumer food preferences, and increasing demand for the services of third-party logistics providers (3PLs) as the food supply chain becomes increasingly complex.
“While we have recently completed a number of international acquisitions, we remain focused on strengthening our U.S. footprint and offering our customers additional capacity and services in key markets,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. “Each of these acquisitions amplifies our existing facility network and the incredible value we are able to provide our customers. We’re also thrilled to welcome many high-caliber teams from across the country to our growing and dynamic family.”
The new additions include:
Wherever food needs to go, we've got the network to get it there. 300+ global facilities, 13 countries, 5 continents, 1.9 billion cubic feet of capacity. https://t.co/DJ9AujRnoZ #oneLineage #coldchain #supplychain pic.twitter.com/EuV3euJMdH— Lineage Logistics (@OneLineage) August 5, 2020