KANSAS CITY, MO. –The cold storage industry is rapidly expanding to meet both the changing tastes of consumers and increasing global demand for temperature-controlled products. Greater expectations for quality, increased regulatory complexity and an emphasis on nutrition and sustainability are also positively impacting the sector. This has resulted in a cold storage industry that posted global sales of more than $120 billion in 2021 and is projected to double in size by 2030.
To capitalize on these opportunities, Vertical Cold Storage, a developer and operator of temperature controlled distribution centers sponsored by real estate private equity firm Platform Ventures, has named West Hutchison President and CEO. Hutchison brings 25 years of experience growing temperature-controlled businesses internationally and at both of the world’s largest cold storage companies. He assumed his new role on September 12, 2022.
“West has a comprehensive set of experiences in warehousing and transportation operations culminating in senior leadership positions that are reflected by the success he’s had at a series of rapidly growing and innovative companies. With our efforts to grow Vertical Cold both organically with greenfield sites and through acquisitions, West is the perfect addition to our strong and growing group of experts,” said Ryan Anderson, Co-President & Co-Founder of Platform Ventures.
Vertical Cold has made several acquisitions during the past 18 months and expects additional announcements of both purchases and ground-up facilities in the coming year. Hutchison will lead the company’s journey to build a global network of facilities utilizing standardized processes and automation to deliver customer-focused solutions for frozen, refrigerated and dry storage, blast freezing, exports, case picking and rail transloading.
“Vertical Cold is off to an amazing start with a great team, five strategically located sites, an integrated best-in-class IT platform and customers that want to grow with us. I’ve had the opportunity to work alongside and learn from many great people in the cold chain during the last 25 years, and I’m excited to join the Vertical Cold team and continue the cycle of listening, learning and sharing so we can help the company realize its full potential,” said Hutchison.
Hutchison most recently was Senior Vice President of Network Optimization/M&A for Lineage Logistics, where he supported dozens of transactions across the globe. Prior to that, he was Partner and Global COO for Emergent Cold, which was sold to Lineage after purchasing seven companies in Australia, New Zealand, Vietnam, Sri Lanka and the United States, and building a state-of-the-art warehouse and IQF processing facility supporting produce exports in Peru. Hutchison also spent 20 years at Americold Logistics, serving in senior leadership roles for transportation, warehouse operations, business development, customer service and IT. He started his supply chain career at United Parcel Service while earning his BBA from Georgia State University.
About Vertical Cold Storage
Vertical Cold Storage is a full-service logistics solution provider focused on building, developing and operating temperature-controlled facilities. Vertical Cold emphasizes customer care and the satisfaction of supply chain professionals while deploying industry-leading technology and automation. More information is available at www.verticalcold.com.
About Platform Ventures
Platform Ventures, through certain asset management subsidiaries, manages and invests in real estate, real estate-related assets, real estate technologies and real estate-focused companies located throughout the United States. Platform’s experienced team seeks to add value to client portfolios by applying its knowledge of the long-term cycles and macro-economic trends that shape the real estate market in order to create price-to-value dislocations. Platform Investments, LLC, which is owned by Platform Ventures, has invested in 37 states with approximately $2.6 billion of assets under management as of March 31, 2022.1 Visit www.platformv.com for more information.
1. This includes assets managed by our affiliates who are not registered investment advisers and this amount does not represent Regulatory Assets Under Management as defined by the SEC. SEC registration does not imply a certain level of skill or training.
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