Lineage Logistics Announces Acquisition of the Cold Storage Division of Claus Sørensen Group

Claus Sørensen Cold Storage is a leading cold storage company in Denmark

Acquisition adds warehouse network and capable team that will strengthen Lineage’s end-to-end supply chain offering for its customers in the Nordic region

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 the cold storage division of Claus Sørensen Group, a renowned cold storage operator in Denmark.

Founded in 1926, Claus Sørensen is headquartered in Esbjerg, Denmark and operates nine cold storage facilities that are strategically located in relation to major fishing ports and food production facilities. The total capacity of Claus Sørensen’s facility network exceeds 800,000 cubic metres, with a freezing capacity of approximately 1,800 tonnes per day.

“At Lineage, we actively look for opportunities to strengthen our leading facility network and deliver strategic value to our customers by connecting more dots within their supply chains,” said Greg Lehmkuhl, President and CEO of Lineage. “Our acquisition of Claus Sørensen will amplify our reach in the Nordic region and will add a highly capable team to our European organization.”

“Lineage’s dedication to both innovation and service perfectly aligns with our longstanding commitment to being a preferred partner for our customers,” said Jesper Toft Mathiasen at Claus Sørensen. “We are excited to join a company that shares our same values and to join forces with Lineage’s team in the region to innovate for our customers and to help them grow their businesses.”

“Like many companies that have joined Lineage, Claus Sørensen is a family owned and operated company with a long legacy and strong entrepreneurial culture,” said Mike McClendon, President of International Operations & EVP of Network Optimization at Lineage. “We are very excited to partner with Jesper and the team at Claus Sørensen cold storage and I am confident in our combined teams’ ability to succeed on behalf of our customers.”

The acquisition comes on the heels of Lineage’s recently announced agreement to acquire Kloosterboer Group and contributes to the strategic expansion of Lineage’s facility network across Europe. Lineage’s global footprint currently spans over 2.1 billion cubic feet of temperature-controlled capacity in 15 countries across North America, Europe, Asia-Pacific, and South America.

Deloitte Corporate Finance is acting as financial advisor and Gorrissen Federspiel is acting as legal advisor to Claus Sørensen Group. Rabobank is acting as Lineage’s financial advisor and Bech Bruun is serving as its legal counsel.

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About Lineage Logistics

Lineage Logistics is one of the leading temperature-controlled industrial REIT and logistics solutions providers worldwide. It has a global network of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America.  Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com) 

About Claus Sørensen
Claus Sørensen was established in 1926 and operates cold and freezer storage facilities, all strategically placed in relation to the production of food products and main fishing ports across Denmark. Focused strongly on the customer, Claus Sørensen aims to be the food industry's preferred partner requires advanced facilities, logistics expertise and the best IT systems in the industry. As a link in the food and beverage supply chain, Claus Sørensen works to optimise processes on behalf of the customer, achieve maximum energy efficiency and protect the environment. Headquartered in Esbjerg, Claus Sørensen is a well-consolidated, foundation-owned business with 220 employees that are strongly driven by our values: quality, efficiency, credibility, responsibility and development. (https://www.csgruppen.dk/)

Lineage Logistics Announces Acquisition of Kloosterboer Group

Kloosterboer Group is a leading and reputable independent platform in Europe for integrated temperature-controlled storage, logistics and value-added services

The transaction combines highly strategic and complementary European facility footprints and diversified logistics capabilities

Kloosterboer’s founding family will continue their involvement in the Company to support future growth of the business

Novi, MI and Rotterdam, the Netherlands – Lineage Logistics, LLC (“Lineage” or the “Company”), one of the world’s leading and most innovative temperature-controlled industrial REIT and logistics solutions providers, today announced it has reached an agreement to acquire Kloosterboer Group (“Kloosterboer”), a leading independent integrated platform for temperature-controlled storage, logistics and value-added services in Europe. The transaction is subject to regulatory clearance and completion of the employee consultation process.

Kloosterboer consists of eleven facilities across the Netherlands, France, Germany, Canada and South Africa, totaling 6.4 million cubic meters of capacity and 790,000 pallet positions and employing over 900 team members. A family-owned company with a rich legacy as a vegetable trading company dating back to 1925, Kloosterboer has grown over generations to become one of Europe’s best-known supply chain solutions companies. The Kloosterboer family will continue to be involved in the future of the Company, choosing to become investors in Lineage and rolling a part of their sale proceeds into Lineage equity.

“Welcoming Kloosterboer into the Lineage family marks a monumental step toward achieving our vision to become the world’s most dynamic temperature-controlled logistics company with the capability to serve customers in different countries around the world,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “Kloosterboer’s strong entrepreneurial culture and management team, combined with their state-of-the-art, strategically located facility network perfectly complement Lineage’s international footprint and innovative spirit, which will deliver incredible value to our combined customers.”

In line with Lineage’s purpose of transforming the food supply chain to eliminate waste and help feed the world, Kloosterboer is recognized by BREEAM (Building Research Establishment Environmental Assessment Methodology) as a frontrunner in sustainable cold store operations. Kloosterboer’s network features nearly 18,000 solar panels, four wind turbines that power operations such as heavy lift equipment, and an annual reduction of CO2 equaling consumption of over 4,100 households.

“Kloosterboer has long focused on providing innovative and sustainable solutions, and we see great alignment with Lineage’s commitment to both the customer and the environment,” said the Kloosterboer family members. “We have known the founders of Lineage since 2014 and are confident Lineage is the right partner to help continue to serve our customers’ end-to-end logistical needs and accelerate the growth of Kloosterboer’s best-in-class capabilities. We are excited for a bright future full of opportunities for our team.”

Nielen Schuman acted as financial advisor to the Kloosterboer family and De Brauw Blackstone Westbroek served as its legal counsel. Rabobank acted as Lineage’s financial advisor and Latham & Watkins and Nauta Dutilh served as its legal counsel.

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About Lineage Logistics

Lineage Logistics is one of the leading temperature-controlled industrial REIT and logistics solutions provider worldwide. It has a global network of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 16 countries across North America, Europe and Asia-Pacific . Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com) 

About Kloosterboer
The Kloosterboer Group is a family-owned company with more than 95 years of experience in the handling of temperature-controlled food products, such as fish, meat, fruit, fruit juices and fruit 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, strives to achieve cost savings for its customers and increase the level of service. The company is specialised in warehousing, stevedoring, forwarding, shipping, customs and logistics IT. With storage capacity in The Netherlands, France, Germany, Canada and South Africa, Kloosterboer is one of the leading companies in this sector. (www.kloosterboer.com)

Lineage Logistics Closes Acquisition of UTI Forwarding

Acquisition marks Lineage’s entrance into the European freight forwarding industry, strengthening efficiencies in global supply chain offering

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 it has closed the acquisition of UTI Forwarding (“UTI”), a renowned Rotterdam-based freight forwarder.

The acquisition was first announced on April 26, 2021.

UTI Forwarding is a leading freight forwarding company that is strategically located in Rotterdam, Netherlands, which specializes in the exporting and importing of Full Container Load (“FCL”) cargo, handling both temperature-controlled and other containerized goods.

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.

“Together with UTI we will create even greater opportunities to provide end-to-end supply chain offerings for our shared customers,” said Mike McClendon, President of International Operations & EVP of Network Optimization at Lineage. “We are thrilled to close on this acquisition and officially welcome UTI into the Lineage family.”

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About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 340 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world.  In recognition of the company’s leading innovations and sustainability initiatives, Lineage was recognized as the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

Lineage Logistics Named to the 2021 CNBC Disruptor 50 List

Recognition underscores Lineage’s commitment to living its purpose to transform the food supply chain to eliminate waste and help feed the world

Annual list recognizes forward-thinking private companies whose innovations are changing the world

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 it was named to the 2021 CNBC Disruptor 50 list.

The annual list features forward-thinking private companies in a range of industries that are growing quickly and whose innovations are changing the world. Companies named as a CNBC Disruptor 50 are selected by CNBC and CNBC.com editorial staff using a proprietary blend of quantitative and qualitative information submitted by more than 1,500 nominated companies.

“At Lineage, we’re constantly challenging the status quo by applying Silicon Valley-style technology to the generations-old temperature-controlled logistics industry,” said Greg Lehmkuhl, President and CEO of Lineage. “Lineage’s unique, innovation-first approach not only delivers value to our customers, but also drives our industry forward. We are incredibly proud to be recognized by CNBC as one of the select companies disrupting their industries during such a critical time – particularly in the food supply chain.”

Since January 2020, Lineage has raised $4.3 billion from new and existing investors to fund its global network capacity and to double down on new and disruptive technologies to design the temperature-controlled warehouse of the future. In 2020 alone, Lineage opened or broke ground on 16 new construction projects around the world, completed 38 acquisitions, and entered eight new countries to add over 130 locations to its global facility network. Additionally, Lineage now has 15 patents for technology innovations, including automation and energy efficiency algorithms that reduce both cost and waste.

Lineage was founded in 2008 and has since remained grounded in its purpose of transforming the food supply chain to eliminate waste and help feed the world. As a result, Lineage has developed solutions to global macro and socio-economic issue such as energy consumption, minimizing food waste and reducing food insecurity.

Highlights of Lineage’s recent innovation include:

• The Company achieved Visionary Partner status with Feeding America®, the nation’s largest domestic hunger-relief organization, as a result of financial donations made through Lineage’s “Share A Meal” campaign which provided over 100 million meals to people in need in response to COVID-19.

• Lineage was recognized for three consecutive years (2019, 2020 and 2021) by the US Department of Energy (DOE) for innovations in energy efficiency.

• In recognition of Black History Month, Lineage hosted a virtual fireside chat with Martin Luther King III on his perspectives and experiences as well as what it takes to bring people from different backgrounds together to achieve a common success.

• In 2020, Lineage announced that it made a $500,000 investment in its inclusion and diversity programs. This commitment began with a donation to the Equal Justice Initiative, a nonprofit organization committed to challenging racial and economic injustice and protecting basic human rights.

For the full list of CNBC Disruptor companies, visit: cnbc.com/disruptors

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 340 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world.  In recognition of the company’s leading innovations and sustainability initiatives, Lineage was recognized as the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

Lineage Logistics Launches Direct-To-Consumer Fulfillment Capabilities Through the Acquisition of Crystal Creek Logistics

Acquisition allows Lineage to enter a rapidly growing e-commerce space to meet increasing demand for fulfillment services from new and existing customers

Crystal Creek is one of the largest providers of e-commerce fulfillment services for direct-to-consumer frozen and refrigerated food with five US locations

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 Crystal Creek Logistics (“CCL”), a leading, national provider of last mile drop-ship order fulfillment for frozen and refrigerated goods. Financial terms of the transaction were not disclosed.

Founded in 2008 and led by founders Cathy Hayward-Hughes and Mike Bradburn, CCL has grown from a single location in Washington State into a national logistics platform with five strategic locations consisting of over 226,000 square feet of storage space, enabling the company to provide two-day ground shipping to 97% of the US. Currently, CCL provides storage, picking, packing and shipping services enabling small to mid-size food direct-to-consumer companies to reach customers quickly and consistently.

“We are thrilled to welcome the CCL team to the Lineage family and further develop our direct-to-consumer platform as we work to meet the growing demand for fulfillment capabilities from new and existing customers,” said Greg Lehmkuhl, Lineage’s President & CEO. “CCL’s experienced and dynamic management team will bring industry-leading operational expertise to Lineage as we build-out our fulfilment capabilities.”

Lineage’s acquisition of CCL will allow the Company to meet the demand for direct-to-consumer fulfilment services, which have grown significantly over the past two years. The COVID-19 pandemic has drastically accelerated consumer e-commerce buying behavior for fresh and frozen products, further advancing the need for direct-to-consumer temperature-controlled supply chain solutions. According to Inmar Intelligence, 79% of consumers have bought groceries online during the COVID-19 pandemic, a jump from 19% the year prior. 

“The vision of Lineage Logistics is to be the world’s most dynamic temperature-controlled logistics company, and our acquisition of CCL brings us an important step closer to realizing that vision,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Senior Managing Partner at Bay Grove, which founded and manages Lineage. “Lineage’s global infrastructure in major population centers worldwide positions us perfectly to expand the reach of CCL’s direct-to-consumer fulfillment services while our investments in technology and automation will help enhance CCL’s solution-oriented customer offering. We are confident the CCL team are the right partners as we continue our e-commerce journey.”

“We have a long-standing relationship with Lineage built on mutual trust, and we saw a special alignment on our shared values and company cultures,” said Cathy Hayward-Hughes, President of CCL. “We are honored to join Lineage to help achieve their purpose of helping to feed the world and are excited to bring our experience in the fulfillment space to the world’s leading temperature-controlled logistics company.”

MC LLP acted as a legal advisor to Lineage. Lakeside Partners acted as a financial advisor to CCL.

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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)

About Crystal Creek Logistics

Crystal Creek Logistics was founded in 2008 and specializes in fulfillment, logistics, and shipping services for direct-to-consumer ecommerce companies with perishable products. The company offers dedicated client support, sustainable operations, and innovative solutions. As a certified B-Corp, Crystal Creek is committed to socially responsible business practices. Partners of Crystal Creek have access to a leading and national system of warehouses that provide maximum reach and efficiency to reduce costs and increase efficiency which allows customers to focus more energy on growing their business.  (https://www.crystalcreeklogistics.com/).

Lineage Logistics Announces Multi-Year Sponsorship Deal with Professional Golfer Justin Thomas

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 multi-year sponsorship of professional golfer Justin Thomas.

As part of Lineage’s sponsorship, Thomas will wear Lineage’s logo during official tournaments and associated public events, and Lineage will commit $100,000 to the Justin Thomas Foundation and its associated charities through donations as well as event support.

“I am thrilled to welcome Justin to the Lineage family,” said Kevin Marchetti, Co-Executive Chairman of Lineage and Co-Founder of Bay Grove, which founded and manages Lineage. “Like Lineage, Justin is young, dynamic and at the top of his game, and we share a strong commitment to going above and beyond to give back to our communities. I am confident in the positive impact we can make together through our partnership.”

“I’m incredibly grateful for Lineage’s support and belief in me at this exciting time in my career,” said Thomas. “Understanding Lineage’s purpose to help feed the world and its deep ties to family businesses resonated with me personally. I look forward to achieving big things in our partnership on and off the golf course in the years ahead.”

Currently second in the Official World Golf Ranking, Thomas is one of the most accomplished and popular golfers on the PGA TOUR. At just 28 years old, he has won the PGA Championship, a FedExCup as well as THE PLAYERS Championship. Joining legends Jack Nicklaus, Johnny Miller and Tiger Woods, Thomas is one of only four players in PGA TOUR history with 14 victories before turning 28.

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About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. Its global network consists of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity and spanning 15 countries across North America, Europe, Asia-Pacific, and South America.  Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help to increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world.  In recognition of the company’s leading innovations and sustainability initiatives, Lineage was recognized as the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

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.

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