Richmond Cold Storage joins Bay Grove
Bay Grove Capital LLC, San Francisco, said it acquired Richmond Cold Storage Company, LLC (RCS). Terms were not disclosed.
RCS operates a network of third party temperature controlled and dry warehouses in Virginia, North Carolina, Georgia and Alabama, encompassing approximately 57 million cubic feet of warehouse space. Its services include dedicated and public warehousing for a broad range of processors and distributors. Bay Grove said RCS' current management will continue to lead the company.
“We are very excited to be part of the Bay Grove family of companies,” said Michael McClendon, RCS president. “This partnership will benefit our customers and employees and it will allow us to continue to grow.”
RCS will join Bay Grove’s family of cold storage companies, which includes Terminal Freezers, Burlington, Wash.; Flint River Services, Albany, Ga.; and West Coast Cold, the parent of Seattle-based CityIce and Seafreeze Cold Storage. These companies have a total combined capacity of more than 130 million cubic feet (5 million square feet), implying a fifth place ranking on the International Association of Refrigerated Warehouses (IARW) North America Top 25 list.
“The acquisition of RCS advances our vision to become a preeminent player in the national cold storage logistics industry,” said Kevin Marchetti, managing director of Bay Grove. “As this platform grows, so does our ability to offer customers a broader range of logistics and cold storage services.”
Marchetti noted that RCS will begin to work more closely with Flint River Services, Albany, Ga., to combine their facility networks and to integrate customer offerings in the Mid-Atlantic and Southeastern United States.
RCS operates a network of third party temperature controlled and dry warehouses in Virginia, North Carolina, Georgia and Alabama, encompassing approximately 57 million cubic feet of warehouse space. Its services include dedicated and public warehousing for a broad range of processors and distributors. Bay Grove said RCS' current management will continue to lead the company.
“We are very excited to be part of the Bay Grove family of companies,” said Michael McClendon, RCS president. “This partnership will benefit our customers and employees and it will allow us to continue to grow.”
RCS will join Bay Grove’s family of cold storage companies, which includes Terminal Freezers, Burlington, Wash.; Flint River Services, Albany, Ga.; and West Coast Cold, the parent of Seattle-based CityIce and Seafreeze Cold Storage. These companies have a total combined capacity of more than 130 million cubic feet (5 million square feet), implying a fifth place ranking on the International Association of Refrigerated Warehouses (IARW) North America Top 25 list.
“The acquisition of RCS advances our vision to become a preeminent player in the national cold storage logistics industry,” said Kevin Marchetti, managing director of Bay Grove. “As this platform grows, so does our ability to offer customers a broader range of logistics and cold storage services.”
Marchetti noted that RCS will begin to work more closely with Flint River Services, Albany, Ga., to combine their facility networks and to integrate customer offerings in the Mid-Atlantic and Southeastern United States.
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