by Lineage Logistics
Posted: Wednesday, November 29, 2017 at 4:04PM EST
NOVI, Mich.-- Lineage Logistics, LLC ("Lineage"), a leading international warehousing and logistics company backed by Bay Grove, LLC (“Bay Grove”), announced today it has acquired eight temperature-controlled warehouses from U.S. Growers Cold Storage (“Growers”). With the acquisitions, Lineage adds significant capacity to its expansive facility network in Southern California, providing increased storage flexibility and greater access to value-added solutions for its customers. Financial terms of the transactions were not disclosed.
The eight locations acquired from Growers encompass over 12 million cubic feet of capacity in the Los Angeles area and are accessible to Southern California’s major freeways, rail facilities and ocean container terminals, including the 250,000 square-foot transload facility Lineage operates in the Port of Long Beach’s overweight corridor. With the acquisition, Lineage strengthens its ability to customize high-impact supply chain solutions for customers by leveraging its expanded Southern California facility network of over 20 locations.
“While we have existing operations and deep experience in Southern California, this acquisition further represents Lineage’s commitment to grow with customers and optimize their supply chains in a desirable core market,” said Greg Lehmkuhl, President & CEO of Lineage Logistics. “Our aim has, and always will be, to consistently provide the space and solutions when and where our customers need it.”
“Lineage is a dynamic company with the sophistication and scale to deliver innovative, impactful solutions,” said Angelo Antoci, Growers President & CEO. “We are confident they will continue to provide exceptional service to our customers and great opportunities for our employees.”
“Growers is an outstanding organization with strong relationships in Southern California, and we are thrilled to welcome them to the Lineage family,” said Kevin Marchetti, Managing Partner of Bay Grove. “Angelo is an industry luminary for whom we have tremendous respect, and we are honored by the outcome of this proprietary acquisition.”
In addition to the acquisition, Lineage will continue Growers’ existing expansion plans to add over 25,000 pallet positions to its capacity over two phases. The initial phase is targeted for completion in May 2018.
The Growers acquisition and its subsequent growth plans are announced on the heels of Lineage’s acquisition of two cold storage facilities from American Cold Storage (“American”). Located in Boonville, Indiana and Louisville, Kentucky, the acquired facilities add over 8 million cubic feet of capacity to Lineage’s facility network and serve as a complement to its nearby warehouses in the Midwest region. American will continue to own its facilities in Humboldt and Jackson, Tennessee independently.
In sum, Lineage adds more than 20 million cubic feet of capacity to its international facility network through these two acquisitions.
About Lineage Logistics:Lineage Logistics is one of the largest temperature-controlled warehousing and logistics companies in the world. The company was founded through the combination of premier, temperature-controlled warehousing companies with roots dating back to the early 1900s. Lineage is committed to confidently driving supply chain transformation by serving the world’s leading food, retail, agriculture and distribution companies. (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)
About U.S. Growers Cold Storage:U.S. Growers is a temperature-controlled warehousing and logistics company based in Southern California. Founded in 1950, the company has strived to be an industry leader and to provide customers with the best possible service across its eight warehouses centered in the Los Angeles area. (www.usgrowers.com)
Source: Lineage Logistics