Lineage Logistics Completes Acquisitions of Cold Storage Companies
Lineage Logistics, a Colton, Calif.-based warehousing and logistics company backed by Bay Grove Capital LLC, San Francisco, completed the acquisition of Loop Cold Storage, McAllen, Texas; Oneida Cold Storage and Warehouse, Henderson, Colo.; and Millard Refrigerated Services, Omaha, Neb., which was previously announced in March. With these three acquisitions, Lineage Logistics expands its national cold storage footprint to more than 544 million cubic feet and a facility network of 102 facilities in 21 states. Financial terms of the transactions were not disclosed.
Loop Cold Storage is said to have the largest cold storage operation on the U.S.-Mexico border servicing the imports of fruits and vegetables and specializing in the international produce trade. Loop Cold Storage also provides value-added packaging and cooler services for produce distributors. Former owner John McGuire joined Lineage Logistics’ management team as vice president of fresh business to focus on developing the company’s fresh services segment.
Oneida Cold Storage and Warehouse is said to be the largest cold storage provider in the Denver metropolitan area. At over 400,000 square feet, its state-of-the-art facility provides customers with a variety of services, including custom freezing programs, multi-temperature storage, tempering services and retail distribution solutions.
“The addition of Millard, Loop and Oneida represent another transformational moment for Lineage, and continues our long-term strategy to build the leader in temperature-controlled logistics,” says Kevin Marchetti, managing director of Bay Grove Capital.
“We are thrilled to officially welcome the newest members to the Lineage family,” says Bill Hendricksen, chief executive officer of Lineage Logistics. “We look forward to continuing our commitment to our customers by offering innovative, creative and customizable logistics solutions as a unified organization.”