Lineage Logistics Acquires VersaCold Logistics from TorQuest Partners
The Insights Survey shows technology adoption is closely tied to resilience efforts, with 60% of respondents ranking data and AI among the top forces transforming operations in 2026.
Lineage Logistics, LLC announced it has signed a definitive agreement to acquire VersaCold Logistics Services, a leading cold chain solution provider in Canada, from TorQuest Partners and its co-investment partners, The Investment Management Corporation of Ontario and OPTrust. Financial terms of the transaction were not disclosed.
Founded in 1941, and headquartered in Vaughan, Ontario, VersaCold is a cold chain leader that runs 24 temperature-controlled facilities comprising 114 million cubic feet of storage and 361,000 pallet positions. Its strategically-positioned network spans nine provinces and includes properties in Canada’s most populous metropolitan markets—including Toronto, Calgary, Vancouver, Edmonton, and Montreal. VersaCold also offers an integrated, asset-based inbound and outbound temperature-controlled transportation solution that operates out of nine terminals across the country and provides coast-to-coast service capabilities.
“Our acquisition of VersaCold represents yet another milestone and an important broadening of our business in Canada,” said Greg Lehmkuhl, president and CEO of Lineage Logistics. “In its 80-plus year history, VersaCold has built a stellar reputation by providing customers with differentiated and fully integrated warehousing and transportation solutions across Canada. We are excited to bring them into the One Lineage family and work alongside the VersaCold leadership team to better serve customers across North America. We also look forward to supporting capacity expansion plans at a number of warehouses across key Canadian markets.”
The acquisition is expected to close in the third quarter of 2022 subject to customary closing conditions.
Wells Fargo Securities, LLC acted as the exclusive financial advisor to VersaCold and TorQuest and Stikeman Elliott LLP served as legal counsel. JP Morgan Chase and Scotiabank acted as Lineage’s financial advisors and Latham & Watkins as well as Bennett Jones acted as its legal counsel.
About Lineage Logistics
Lineage Logistics is one of the world’s leading temperature-controlled industrial REITs and logistics solutions providers. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its 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.
Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!
