Lineage Logistics Strengthens Industry-Leading Temperature-Controlled Facility Network in Europe With a Dozen Transactions in 2020
Twelve transactions include twenty locations spanning over 2.5 million square feet and 90 million cubic feet of capacity across five European countries, including The Netherlands, Denmark, Belgium, Poland and Norway
NOVI, MICH.--(Business Wire / Korea Newswire) February 02, 2021 -- Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced the completion of twelve transactions across Europe to build on its leading global facility network. Over the past twelve months, Lineage completed strategic acquisitions across four countries that consists of twenty locations in core population and food production markets. Also included in the Company’s deal activity is a majority investment in a state-of-the art automation commissioning business located in Belgium. All acquisitions have either been successfully integrated or will be integrated in the first quarter of 2021.
Among the companies joining the Lineage team is Coldstar, Lineage’s most recent acquisition in the region which features a highly automated operation in the “Golden Triangle” of Denmark, strategically located between Jutland, Zealand and Germany. Coldstar adds nearly seven million cubic feet and over 20,000 pallet positions of cold storage capacity to the Lineage network, with more than 100 skilled and enthusiastic team members serving approximately 65% of the Danish retail market. Plans to grow this business and expand its offerings to retailers in Denmark and beyond are actively under consideration.
In addition to Coldstar, the announced transactions include:
· Lundsøe Køl og Frys, five locations across Denmark with a substantial expansion planned for the Port of Aarhus to be completed in 2021
· Super Frost Sjaelland A/S, one location outside Copenhagen
· Kolding, one triple-net leased facility
· Kanalholmen, one triple-net leased facility
· Vriescentrale Asten, one highly automated operation focused on meat processing for international export
· Frigo Group’s Heerenberg B.V. location in Heerenberg
· F.A.I.S. - Flexible Automation Innovative Solutions - a state-of-the-art automation commissioning business that will assist Lineage in its substantial new build growth pipeline
· Larvik, one net leased facility in proximity to Larvik Harbour, Norway’s second largest container port
· Oslo, one net leased facility
· Moss Cold Storage, one operation in Moss, Norway that services the broader Norwegian market
·Pago Sp. z o.o., six locations across Poland
“In a year like 2020, which presented both challenges and opportunities, I’m proud we were able to enter new markets and continue our growth momentum around the globe,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. “We ended the year in a strong position in the European market and more focused than ever on our purpose of transforming the food supply chain to eliminate waste and help feed the world.”
“These transactions are important to our growing European footprint and address increasing demand from customers to respond to shifting market dynamics and implement new, innovative and global supply chain solutions,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “The strategic locations of these facilities, combined with those which offer and facilitate highly-automated operations or expansion opportunities, allow us to offer supply chain solutions that extend throughout the entire value chain.”
Following the close of these transactions, the combined Company features a global footprint that spans over 2.1 billion cubic feet of temperature-controlled capacity across over 340 facilities in 15 countries spanning North America, Europe, Asia, Australia, New Zealand, and South America.
About Lineage Logistics
Lineage is the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, 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. Lineage has grown its cubic feet by 60% annually since 2008 to 2.1 billion cubic feet, making it the largest global temperature-controlled industrial REIT. 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)
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