Lineage Logistics Recognized by the U.S. Department of Energy’s Better Plants Program with a 2021 Better Practice Award

Lineage was recognized for its success in energy procurement and hedging, which reduces energy costs from two to six percent at participating sites

The award marks the third consecutive year Lineage has been recognized by the U.S. Department of Energy for outstanding energy efficiency innovations

Novi, MI – The U.S. Department of Energy (DOE) recognized Better Plants partner Lineage Logistics, LLC (“Lineage” or the “Company”), for its success in energy procurement and for cultivating an innovative data science team that has earned 14 patents and saved millions of dollars in annual energy costs. As part of DOE’s Better Buildings Initiative, Better Plants works with leading manufacturers and water and wastewater treatment agencies to boost their competitiveness through improvements in energy efficiency.

The annual Better Practice Awards are bestowed upon partners for innovative and industry-leading accomplishments in implementing and promoting practices, principles, and procedures of energy management. Over the past two years, Lineage’s Data Science team has developed algorithms to analyze site load profiles and electricity rates to determine the optimal amount of fixed-rate energy procurement in deregulated markets. In 2020, the first iteration of Lineage’s work on energy procurement and hedging produced energy bill savings of 2-6% at participating sites.

“Our data science team, in partnership with Lineage’s team of talented technologists, continues to push the boundaries of what is possible in temperature-controlled logistics, and their collective work has helped cement Lineage as an innovator in both data science and the industry at large,” said Sudarsan Thattai, Lineage’s Chief Information Officer. “We couldn’t be prouder to be recognized by the U.S. Department of Energy‘s Better Plans Program for the third consecutive year and are excited to continue to challenge the status quo.”

“Better Plants partners are implementing innovative energy, water, and waste reduction solutions in the industrial space that are cutting costs and energy use while supporting job creation, combating the climate crisis, and driving a clean energy future in the U.S. The Better Plants Better Practice and Better Project awards honor their leadership,” said Dr. Michael McKittrick, acting director, Advanced Manufacturing Office, U.S. Department of Energy.

In 2020, the U.S. DOE recognized Lineage for optimizing its blast freezing process, reducing freeze times by up to 50% and improving blast energy efficiency by up to 20% in a facility freezing beef products. Additionally, in 2019, the U.S. DOE recognized Lineage for pioneering a new and innovative way to improve energy productivity using a process the Company calls “flywheeling,” which proactively manages energy consumption using proprietary machine-learning and scheduling optimization algorithms to reduce both cost and waste.

As part of the broader Better Buildings Initiative, Better Plants partners voluntarily set a long-term goal, typically to reduce energy intensity by 25 percent over a 10-year period across all their U.S. operations. DOE supports these efforts with technical expertise and national recognition.

Lineage and other 2021 Better Practice Award winners, such as General Motors and Saint-Gobain Corporation, were formally recognized at the 2021 Better Buildings, Better Plants Summit – a virtual leadership symposium – on May 19, 2021.

Read more about Better Plants partner results, showcase projects, and innovative solutions being shared with others in the 2020 Better Plants Progress Update.

About Lineage Logistics

Lineage is the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider. 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. 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)

Lineage Logistics Enters Spanish Market with the Acquisitions of Frigorificos de Navarra and Cold Storage Facility from Frioastur

Lineage continues to expand its leading European presence with Company’s first foray into Spain

Novi, MI – Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced its acquisition of Frigorificos de Navarra (“Frinavarra”), a leading operator of refrigerated warehousing and storage facilities headquartered in Milagro, Spain, and a cold storage warehouse facility from Frioastur located in Gijón, Spain. Financial terms of the transactions were not disclosed.

Frinavarra is an operator of refrigerated warehousing and storage facilities headquartered in Milagro (Navarra), Spain. Founded in 1987, its services include blast freezing, tempering, and modified atmosphere storage services, among other critical offerings for food and beverage customers. With nearly 20 million cubic feet of capacity, Frinavarra’s highly automated freezer facility comes with the opportunity for future expansion, furthering Lineage’s leading global network of automated temperature-controlled facilities.

Lineage’s acquisition of Frinavarra also involved an asset purchase from Frioastur, a cold storage warehouse located in Gijón, Spain. Originally built in 1963, the facility spans one million cubic feet of storage capacity and provides cold storage, handling, picking, transportation, and facilities services.  

“Lineage’s entry into the Spanish cold storage market with our acquisitions of Frinavarra and Asturias marks another exciting milestone in our ongoing growth journey,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “These new facilities expand our global offering in an important market for our customers and provide Lineage with future opportunities for continued expansion throughout Europe and beyond.”

With its entry into the Spanish market, Lineage owns and operates in 16 countries across North America, South America, Europe, Asia, Australia and New Zealand.

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)

Lineage Logistics Expands its European Logistics Offering with the Acquisition of UTI Forwarding

Acquisition marks Lineage’s entrance into the European freight forwarding industry and strengthens the Company’s ability to efficiently move goods through its global facility network

Novi, MI – Lineage Logistics, LLC (“Lineage” or the “Company”), a leading global temperature-controlled industrial REIT and logistics solutions provider, today announced its intention to acquire UTI Forwarding, a renowned Rotterdam-based freight forwarder. The acquisition marks Lineage’s entrance into the freight forwarding industry in Europe, further strengthening Lineage’s end-to-end supply chain offering by advancing the operational synergies for the movement of goods through Lineage’s global warehouse network. The transaction, which is conditional upon approval from the competent competition authorities, will close upon receipt of clearance.

Founded in 1961, UTI Forwarding is a leading freight forwarding company that is strategically located in Rotterdam, Netherlands, with a new office in Gdansk, Poland. The company specializes in the exporting and importing of Full Container Load (“FCL”) cargo, handling both temperature-controlled and other containerized goods. With over 400 clients, UTI manages container shipments to and from any port worldwide.

“We are thrilled about our acquisition of UTI. Together we will offer a one stop solution to our shared customers that creates new efficiencies between import and export-based container movements and our warehouses that will help us reduce waste in the supply chain. ,” said Mike McClendon, President of International Operations & EVP of Network Optimization at Lineage. “UTI has an exceptional management team and we are excited to partner with them to expand this offering to new customers while investing in technology to further drive growth and savings.”  

“From the moment we started talking with Lineage, it was clear to us that our companies were a great match. We share a similar no-nonsense culture, while our customer bases and services perfectly complement each other,” said Peter de Kramer, CEO of UTI Forwarding. “For a while now, our company has experienced significant growth and development, and we reached certain milestones sooner than we expected. Ahead of our discussions with Lineage, Nordian Capital helped us offer clear insight into our performance and our ambitions for further expansion. Becoming part of Lineage now allows us to offer our customers even better service in the future and puts UTI where it belongs – at the very top of the international container market.”

Perry Bos and Caspar Mutze of Nordian Capital commented further: “As we worked together over the past few years, UTI developed tremendously and is now ready for their next step. UTI couldn’t have dreamt of a better partner to realize its growth ambitions. Several buyers expressed an interest, but it was pretty clear from the very start that UTI’s management felt Lineage offered the best opportunities for expanding its offer to their customers. Nordian is proud to what we have achieved together with UTI and we believe UTI and Lineage have a bright future ahead of them.”

ING Financial Services LLC. acted as financial advisor to UTI and its former financial sponsor, Nordian. Rabobank acted as Lineage’s financial advisor and NautaDutilh served as its legal counsel.

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About Lineage Logistics

Lineage is a leading and innovative temperature-controlled industrial REIT and logistics solutions provider. Lineage’s expertise in end-to-end logistical solutions, its global 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)

About UTI

UTI (uti.nl/en) specializes in exporting and importing Full Container Load Cargo around the world. Apart from shipping both regular and temperature controlled containers, UTI handles customs clearance and road transportation for more than 400 customers. With its offices in Rotterdam and Poland, UTI. Together with its network of partners, is at its customers’ disposal 24/7, regardless of where its customers are based.

About Nordian Capital

Nordian Capital (nordian.nl) is an independent Dutch private equity investor focused on increasing and accelerating the growth of companies. Since its founding in 2014, Nordian has contributed to more than 30 companies as a critical and committed investment partner.  Nordian Capital offers proactive support in the areas of strategy, financing and mergers & acquisitions. Nordian does not take the management’s seat but allows entrepreneurs to do what they do best: running their business.

Lineage Logistics to Expand at Port of New Orleans

Today, Gov. John Bel Edwards, Port of New Orleans President and CEO Brandy D. Christian, and Lineage Logistics President and CEO Greg Lehmkuhl announced the company will build a $42 million expansion of its Jourdan Road cold-storage facility in New Orleans East, where Lineage plans to create 50 new direct jobs.

One of two major Lineage facilities at the Port of New Orleans, the cold-storage complex at Jourdan Road along the Inner Harbor Navigation Canal will grow from 160,000 square feet to 304,000 square feet. The company will retain 188 existing Louisiana jobs with the new project while creating an estimated 50 new direct maritime and warehousing jobs.

READ THE FULL PRESS RELEASE FROM THE OFFICE OF THE LA GOVERNOR

VIEW MORE ON THE EXPANSION OPENING MAY 2022

Lineage Logistics named Körber Customer Innovation Award Winner at Elevate Americas 2021

Lineage Logistics recognized for unique commitment to conquer supply chain complexity

Novi, MI – Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest temperature-controlled industrial REIT and logistics solutions provider, has been named a Customer Innovation of the Year winner in the category Standout Business Benefit by Körber. The honor recognizes Lineage for the exemplary use of Kӧrber’s solutions to revolutionize supply chains worldwide.

“Customer expectations for choice, speed and price are heightening. Additionally, the pandemic has made an already complex supply chain even more challenging. We see this as an opportunity for our customers to excel and differentiate themselves.” said Bill Ryan, CEO Software North America for Körber Business Area Supply Chain. “Solving supply chain complexities is about finding the right technology and a partner you can rely on. Our customer innovation award winners did just that – working with us for creative solutions for today and beyond.”

“Lineage is committed to offering transformative logistics solutions to engage, manage and optimize our 5,000-plus customers’ end-to-end supply chain needs. Using K.Motion WMS, Lineage has set the standard for support excellence across the global food supply chain,” said Sudarsan Thattai, Lineage’s Chief Information Officer. “I am proud of Lineage’s unwavering commitment to innovative solutions, and thank Körber for their recognition of our leadership in this effort.”

Customer Innovation Award recipients have embraced today’s supply chain challenges and overcome complexities – capitalizing on and finding unique opportunities through the power of Körber’s solutions. This includes supply chain software, automation, voice/vision/mobility, robotics, material handling equipment, systems integration and consulting.

This year, Körber’s annual supply chain user conference, Elevate Americas, was held virtually live and on-demand. Winners were recognized during an awards ceremony on March 12, 2021. Kӧrber’s Elevate conferences bring together hundreds of professionals around the world to learn more about the latest opportunities and solutions to revolutionize supply chains. Events in Europe and the Asia Pacific will also be held in 2021.

Learn more about Kӧrber’s customer success stories here.


About the Körber Business Area Supply Chain

Supply chains are growing more complex by the day. Körber uniquely provides a broad range of proven, end-to-end supply chain solutions fitting any business size, strategy or appetite for growth. Capable of delivering not just software, but automation, voice, robotics, and materials handling – plus the expertise to tie it all together. We are a global partner not just for today, but also as the needs of supply chains continue to evolve. Conquer supply chain complexity – with Körber. The Business Area Supply Chain is part of the global technology group Körber. Find out more on www.koerber-supplychain.com

Lineage Logistics Raises $1.9 Billion in New Equity to Fund Investment in Global Network Capacity and Industry-Leading Technology

Led by a set of world-class investors, Lineage’s latest equity raise is the largest funding round since its founding in 2008 and brings the total equity raised since January 2020 to $4.3 billion

Company also transforms its capital structure with a new $2.8 billion corporate credit facility

Lineage to use funds for global greenfield developments, facility expansions, M&A activity and technology innovations to turbocharge end-to-end supply chain efficiency for customers

BentallGreenOak Senior Managing Partner and Co-Founder John Carrafiell to join Lineage’s Board of Directors

Novi, MI – March 11, 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 it has raised $1.9 billion in equity from new and existing strategic partners. Participating investors include BentallGreenOak, D1 Capital Partners, Oxford Properties, CenterSquare Investment Management, MS Tactical Value and Conversant Capital, OP Trust, Cohen & Steers, among others.

“We set out to raise capital to support Lineage’s investments in the world’s most state-of-the-art technology and automation, greenfield developments, facility expansions, and continued acquisitions, and we were met with overwhelming demand from some of the most well-respected global institutional investors,” said Greg Lehmkuhl, President and CEO of Lineage. “This is clear validation of our business model and our consistent, successful strategy to optimize our customers’ temperature-controlled supply chains, which is exactly how we intend to deploy the funds – to bolster our customers’ experiences from every angle and prove ourselves as their most valuable partner.” 

In addition to this latest equity raise – which is the Company’s largest since its founding in 2008 and follows September’s $1.6 billion raise –  Lineage also transformed its capital structure with a new $2.8 billion Revolving Credit Facility and Term Loan A. The new facility aligns closely with traditional REIT financings, has investment-grade pricing, and becomes unsecured upon compliance with investment-grade covenants. Additionally, the new facility enables Lineage’s growth worldwide by offering multicurrency lending across Lineage’s numerous jurisdictions. This transaction represents Lineage’s first sustainability-linked loan with three Environmental, Social, and Governance (ESG) initiatives.

As Lineage continues to fulfill its purpose of transforming the food supply chain to eliminate waste and help feed the world, a significant portion of the $1.9 billion of new capital will be used to double down on new and disruptive technologies to design the temperature-controlled warehouse of the future. Tapping its award-winning team of data scientists and technologists, the Company is developing widespread algorithmic programming and automation software to streamline its operations and optimize every movement within its warehouses. Lineage – which has 13 patents and a track record of technological innovations – also announced earlier this year the launch of Lineage Link, a fully-integrated customer experience platform which provides unprecedented visibility and collaboration across its customers’ supply chains.

Additionally, the new equity will be deployed, in part, to fund greenfield development and facility expansion projects in its North American, European and Asian-Pacific operating regions. Focusing on customer need and opportunity, Lineage has recently completed or has pending construction in the following markets:

In the U.S.:

• Charleston, South Carolina

• Logan Township, New Jersey

• New Orleans, Louisiana

• Portsmouth, Virginia

• Sioux Falls, South Dakota

• Stevens Point, Wisconsin

International:

• Aarhus (Denmark)

• Gdansk (Poland)

• Hanoi (Vietnam)

• Heywood (United Kingdom)

• Peterborough (United Kingdom)

• Tauranga (New Zealand)

“I am proud to say that the company we have been building has made an incredible and transformative impact on our customers, our team members, our communities and the broader temperature-controlled industry,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Senior Managing Partner at Bay Grove, which founded and manages Lineage. “This additional equity – from some of the best regarded names in the investment world – positions Lineage for continued and meaningful growth.”

In addition to growth via greenfield development and facility expansion projects, Lineage continues its long history of acquiring best-in-class cold chain companies around the world. The Company previously announced a dozen international acquisitions and is proud to also welcome a group of well-respected organizations to strengthen its domestic operations, including:

• Dick Cold Storage, including three locations in the Greater Columbus, OH area

• A new strategic warehouse in Lyndhurst, VA

• Great Lakes Cold Storage, including two locations in Solon, OH and Cranberry Township, PA

• Win Chill Cold Storage, including one location in Sioux Falls, South Dakota

• Joliet Cold Storage, including two locations in Bolingbrook, IL and Joliet, IL

A number of the former owners from these companies, in addition to those already announced, chose to become investors in Lineage, rolling a part of their companies’ sale proceeds into Lineage equity.

Lineage represents the largest network of temperature-controlled warehouses globally, with more than 340 strategically located facilities offering over 2.1 billion cubic feet of capacity and spanning 15 countries across North America, Europe, Asia, Australia, New Zealand and South America. During 2020, Lineage completed 38 acquisitions which added 128 facilities in 11 countries, bringing over 5,000 new employees into the organization. Also in 2020, Lineage became the first temperature-controlled warehousing provider to offer refrigerated and insulated railcar solutions through the acquisition of Cryo-Trans.

In connection with the equity raise, the Company also announced a new Board Member, BentallGreenOak Senior Managing Partner and Co-Founder, John Carrafiell, who brings with him 33-years of real estate and capital markets experience.  With $53 billion in Assets Under Management (AUM), BentallGreenOak is a leading global real estate investment manager and advisor, and a globally recognized provider of real estate services. Carrafiell was previously Global Co-Head of Morgan Stanley Real Estate (MSRE), where he was responsible for running the real estate investment banking platform globally as well as the principal investing business with $100 billion in AUM in over 33 countries.

“In recognizing Lineage’s exciting and industry-leading runway for innovation as well as its tremendous pipeline of growth opportunities, BentallGreenOak is thrilled with the most recent raise to become one of the Company’s largest investors,” said Carrafiell. “Serving as an observer on Lineage’s board for the past six months, I saw first-hand the Company’s extraordinary ability to continue to grow – both organically and through acquisitions – without missing a beat – despite the ongoing pandemic.”

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About Lineage Logistics

Lineage is the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider. 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. 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)

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)

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, MI – 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:

Denmark

• 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

The Netherlands

• Vriescentrale Asten, one highly automated operation focused on meat processing for international export

• Frigo Group’s Heerenberg B.V. location in Heerenberg

Belgium

• 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

Norway

• 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

Poland

• 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)

Lineage Logistics Becomes First Temperature-Controlled Warehousing Provider to Offer Refrigerated and Insulated Railcar Solutions

Lineage Logistics to acquire Cryo-Trans, owner of North America’s largest private fleet of refrigerated and insulated railcars

Novi, MI – 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 acquisition of Cryo-Trans, North America’s leading provider of refrigerated and insulated railcars and rail management solutions. This industry-first partnership creates a uniquely comprehensive and seamlessly integrated supply chain solution for food and beverage customers. Financial terms of the transaction were not disclosed.

Cryo-Trans manages more than 40,000 annual rail shipments and owns over 2,200 refrigerated and insulated railcars, the largest private fleet of its kind in North America. Since designing its first temperature-controlled railcar in 1985, Cryo-Trans has partnered with its customers to develop sustainable and cost-efficient long-haul rail transportation solutions. Cryo-Trans has also leveraged its proprietary rail management programs to become a trusted rail management partner, providing real-time information and visibility to track, trace and expedite railcar shipments anywhere in North America.

“Lineage’s acquisition of Cryo-Trans signals our commitment to knowing no bounds when it comes to investing in creative and truly end-to-end solutions for our customers,” said Kevin Marchetti, Co-Founder of Lineage and Bay Grove. “We are proud to continuously lead innovation in our industry, and we look forward to uncovering new opportunities to further streamline our customers’ supply chains.”

“Welcoming the dynamic team from Cryo-Trans further diversifies Lineage’s comprehensive suite of multi-modal services and creates a unique, under-one-roof solution for our customers in which warehousing and transportation are seamlessly integrated,” said Greg Lehmkuhl, Lineage’s President & CEO. “Combining our leading facility footprint, a railcar network and data-driven transportation management systems enables us to further optimize freight, create greater efficiencies, generate unprecedented supply chain visibility and provide a new ease of doing business for our customers.”

Lineage represents the largest network of temperature-controlled warehouses globally, with more than 330 strategically located facilities offering nearly 2 billion cubic feet of capacity and spanning 15 countries across North America, Europe, Asia, Australia, New Zealand, and South America. Lineage also offers transportation solutions, including less-than-truckload (LTL) consolidation, managed transportation, on-demand transport, port logistics, customs brokerage, import/export, drayage, last-mile delivery and related value-added services.

“We are honored to bring our rail experience and premium railcars to the world’s leading temperature-controlled logistics company,” said Herman Haksteen, Chief Executive Officer of Cryo-Trans. “Together we will continue to execute on the Cryo-Trans mission of ‘protecting today’s perishables for tomorrow,’ and we are excited to join Lineage in living their purpose to transform the food supply chain by introducing a new, one-of-a-kind end-to-end supply chain solution to the industry.”

J.P. Morgan is acting as a financial advisor to Lineage. Latham & Watkins is acting as a legal advisor to Lineage.

DLA Piper is acting as legal advisor to Cryo-Trans.


About Lineage Logistics

Lineage is the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider. 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. Lineage has grown its cubic feet by 60% annually since 2008 to 1.9 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)


About Cryo-Trans

Cryo-Trans, located in Reisterstown MD is the world’s largest provider of private, insulated and refrigerated Railcars. Through its world class car leasing programs and its state-of-the-art rail car management programs Cryo-Trans has formed strong long-lasting relationships with the largest food and beverage manufactures in North America, moving or managing over 40,000 shipments per year. Started in the 80,s with a single unique design the company has grown its rail fleet of insulated and refrigerated cars to over 2200 cars. Cryo-Trans provides support and guidance to PRFBA (Private Railcar Food and Beverage Shippers Association). (www.mhwgroup.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)

Lineage Logistics Closes Acquisition of Kloosterboer Norway Facility

The acquisition represents Lineage’s continued focus on growing its footprint to most efficiently serve customers in the Scandinavian and Nordic markets

Kloosterboer Norway is a leading temperature-controlled logistics services provider in Northern Europe

Novi, MI – 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 acquisition of the Kloosterboer Norway facility. Terms of the deal were not disclosed.

The Kloosterboer Norway facility totals 17,500 pallet positions and is strategically located outside of Oslo where it is well-positioned to serve both food producers and retailers. The facility’s structural design provides a highly efficient use of the volume in the cold store, allowing Lineage to continue executing its purpose to transform the food supply chain to eliminate waste and help feed the world.

“We’re excited to bring the Kloosterboer Norway facility into the Lineage network to enable us to further serve and reach customers in the Northern European region,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “Kloosterboer, founded in 1925, is a strong and independent family business and we welcome the team at the Kloosterboer Norway facility to the Lineage family.”

“Kloosterboer’s strategy is to be an integrated supply chain partner for its customers, which is leading us in the direction of building multiple new locations in a short period of time. Because the Nordics are not a key development market in this strategy, we are pleased to sell Kloosterboer Norway to Lineage,” said Stephane Pluenet, Kloosterboer’s Executive Director of Automation.

The acquisition follows Lineage’s entrance into Norway in October 2020, and more broadly, Lineage’s entrance into the Scandinavian region in June 2020. The acquisition also contributes to the strategic expansion of Lineage’s facility network across Europe. Following the close of this transaction, the combined Company will feature a global footprint that spans over 1.9 billion cubic feet of temperature-controlled capacity across over 330 facilities in 14 countries spanning North America, Europe, Asia, Australia, New Zealand, and South America.

Ro Sommernes acted as legal advisor to Lineage.


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 1.9 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)


About Kloosterboer

The Kloosterboer Group is a family-owned company with 95 years of experience in the handling of temperature-controlled food products, such as fish, meat, fruit, fruit juices /-concentrates, dairy and potato products. Kloosterboer develops and provides innovative and sustainable solutions in the supply chain for conditioned food products. Kloosterboer is committed to long-term relationships and wants to make cost savings for its customers and increase the level of service. The company is specialized in warehousing, stevedoring, forwarding, shipping, customs and logistics IT. With over 4,7 million m3 / 700.000 tonnes storage capacity in The Netherlands, Germany, France, Sweden, Canada and South Africa, Kloosterboer is one of the leading companies in this sector. (https://www.kloosterboer.com/nl/)


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)

Lineage Logistics Enters the Polish Cold Storage Market with the Acquisition of Pago Sp. z o.o.

Lineage further expands its growing presence in Europe with the acquisition of Pago, Poland’s largest cold storage and logistics provider

Novi, MI –  Lineage Logistics Holdings, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has acquired Pago Sp. z o.o. (“Pago”), a leading warehousing, distribution and transport logistics provider in Poland from its current ownership, including Tönnies International Holding GmbH (“Tönnies”). The strategic acquisition marks the Company’s entrance into the Polish market and adds six exceptional assets to Lineage’s global network of temperature-controlled facilities. Lineage was founded and continues to be managed by Bay Grove Capital, LLC (“Bay Grove”), a principle investment firm dedicated to partnering with strong management teams to build long-term platform investments. Financial terms of the transactions were not disclosed.

“We are excited to enter Poland by acquiring Pago, which is known for its dedicated team members, the most modern network in its market and an entrepreneurial culture with roots as a family business – just like so many of the organizations we’ve embraced as part of our ‘One Lineage’ family,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “The acquisition also expands the Lineage footprint to an increasingly important market for our customers and a region where we see opportunities to add capacity and implement new, innovative customer solutions.”

The combined Company will feature over 1.9 billion cubic feet of temperature-controlled capacity across more than 330 facilities in 15 countries, with a global footprint that spans North America, South America, Europe, Asia, Australia and New Zealand.

“We are very pleased to partner with the current Pago leadership, who have helmed the organization since 2006 based on an ethos of reliability, quality and commitment to the customer while growing it to become the largest and most modern cold storage company in Poland,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner of Bay Grove. “Pago leaders Adam, Patryk and Maciej Gościniak will continue with the business and help Lineage drive further growth in this critical and strategic region. We would like to thank Tönnies for their efforts in support of this transaction.”

“We couldn’t be more excited to be joining the Lineage family,” said Patryk Gościniak, Vice Chairman of Pago. “Lineage is known worldwide for its unrivaled international facility network, robust suite of supply chain solutions as well as its extensive technology and automation resources. We are honored they have recognized our talent and expertise in the Polish market and will now lead the Pago team into a promising new chapter as part of Lineage. On behalf of the leadership, I’d like to thank our entire team for their hard work in building Pago to what it is today. It is because of these efforts and commitment to our business that we have reached this milestone.”

Rabobank acted as financial advisor to Lineage. Latham & Watkins acted as legal advisor to Lineage.

PWC Legal acted as legal advisor to Tönnies.

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. Lineage has grown its cubic feet by 60% annually since 2008 to 1.9 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)


About Pago Sp. z o.o.

Pago is the most recognizable provider of frozen food logistics in Poland. It successfully carries out projects combining warehouse and distribution logistics, meeting the needs of the most demanding customers, including the largest Polish manufacturers of frozen food, international concerns and retail chains who expect the highest standards of service, ethics and safety. Pago runs a network of modern frozen food logistics centers, developed in accordance with top construction and equipment standards, and its total storage capacity exceeds 190 000 pallet positions. One of its facilities is located in the Baltic Sea Port of Gdańsk, directly in the Deepwater Container Terminal, making Pago an important link in the supply chain in terms of global frozen food trade. (www.pago.net.pl)


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)