Lineage Logistics Closes Acquisition of Preferred Freezer Services
NOVI, Mich.--(BUSINESS WIRE)--May 7, 2019--Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s most innovative and trusted provider of temperature-controlled logistics solutions, today announced it has closed the acquisition of Preferred Freezer Services, LLC (“Preferred”).
The acquisition was first announced on February 25, 2019.
The combined company now features the largest temperature-controlled facility network globally with over 1.3 billion cubic feet and 37 million square feet of capacity across more than 200 facilities spanning North America, Europe and Asia to support customer supply chain needs worldwide. Lineage continues its leadership in automated warehousing with the acquisition of Preferred, now totaling over 800,000 automated pallet positions across 17 facilities, including the two largest automated temperature-controlled facilities in the world.
“With the integration of Preferred’s exceptional team and its network of state-of-the-art facilities, Lineage is the clear go-to logistics partner for both large and small food producers and retailers worldwide,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. “Together, we look forward to delivering operational excellence and innovative, high-impact supply chain solutions for customers on a global scale.”
“Since founding Lineage in 2008, we have been focused on strategically growing the business to meet expanding customer needs,” added Kevin Marchetti, Co-Founder and Managing Partner of Bay Grove, LLC (“Bay Grove”), the principal investment firm backing Lineage. “The close of this transaction unlocks an entirely new set of opportunities as we look to build upon our industry-leading position with additional capital deployment in technological advancements and new projects.”
About Lineage: Lineage is the industry’s leading innovator in temperature-controlled supply chain and logistics. Lineage’s expertise in end-to-end logistical solutions, its unrivaled real estate network, and its use of technology combine to promote food safety, increase distribution efficiency, advance sustainability, lessen environmental impact, and minimize supply chain waste. As a result, Lineage helps customers ranging from Fortune 500 companies to small family-owned businesses increase the efficiency and protect the integrity of their temperature-controlled supply chain. ( www.lineagelogistics.com )
About Bay Grove: Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. ( www.bay-grove.com )
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA MICHIGAN
INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT RETAIL FOOD/BEVERAGE
SOURCE: Lineage Logistics, LLC
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PUB: 05/07/2019 08:00 AM/DISC: 05/07/2019 08:00 AM