Lineage Logistics Closes Acquisition of Emergent Cold
Acquisition solidifies Lineage Logistics’ presence in the Asia-Pacific region, amplifies its port-centric network and provides an expanded global footprint for customers
NOVI, MICH.--(Business Wire / Korea Newswire) June 03, 2020 -- Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative provider of temperature-controlled logistics solutions, today announced it has closed the acquisition of Emergent Cold (“Emergent”).
The acquisition was first announced on November 18, 2019.
The combined company expands on the largest temperature-controlled facility network globally, with over 1.9 billion cubic feet and 53 million square feet of capacity across more than 300 facilities spanning 12 countries across North America, South America, Europe, Asia, Australia and New Zealand. As part of the transaction, Lineage also acquires newly constructed distribution centers located in the Dallas-Fort Worth market and in Piura, Peru, as well as New Orleans Cold Storage and its four U.S. facilities anchored in the Ports of New Orleans, Houston and Charleston.
“Welcoming Emergent Cold and New Orleans Cold Storage to the Lineage family provides a dramatically expanded footprint of facilities in the Asia-Pacific region and further connects our customers’ global supply chains through one network as a result,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “With many of the acquired facilities located in key domestic and international ports, we are better positioned than ever to more efficiently serve our customers in nearly every corner of the world. We look forward to building on Emergent’s exciting growth and, in turn, playing a key role in helping our customers grow their respective businesses.”
“We continue to be laser focused on strategically and intentionally growing the business to provide the most expansive and innovative logistics services in the world,” said Kevin Marchetti, Co-Founder and Managing Partner of Bay Grove, LLC (“Bay Grove”), the principal investment firm backing Lineage. “The close of this transaction is an important step in building our Asia-Pacific platform and unlocks new doors for Lineage’s customers.”
The close of Lineage’s acquisition of Emergent Cold follows the recent announcement of two similar acquisitions. The first, announced on May 20, was the company’s acquisition of leading foodservice distributor Maines Paper & Food Service, which further expands Lineage’s service offering to customers with last mile distribution and adds leading U.S. restaurant brands into the Lineage network. The second was the announcement of a signed definitive agreement to acquire Henningsen Cold Storage Co. on May 28, which will provide customers with expanded options in the Pacific Northwest as well as new service locations in Idaho, North Dakota and Oklahoma.
About Lineage Logistics
Lineage is the world’s largest and most innovative provider of temperature-controlled logistics solutions. 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. In recognition of the company’s leading innovations, Lineage was recognized as the No 1. Data Science company on Fast Company’s Annual list of The World’s Most Innovative Companies in 2019, in addition to ranking 23rd overall in an evaluation of thousands of companies worldwide. (www.lineagelogistics.com)
View source version on businesswire.com: https://www.businesswire.com/news/home/20200602005371/en/
This is a news release distributed by Korea Newswire on behalf of this company.