Lineage Logistics Further Expands Global Presence with Strategic Acquisition in Europe
Posted in Acquisitions
Acquisition of two Van Soest Coldstores facilities in the Netherlands and Belgium adds to Lineage’s rapidly expanding European footprint
Novi, MI – Lineage Logistics, LLC, the world’s largest and most innovative provider of temperature-controlled logistics solutions, today announced as part of its global expansion efforts that it has acquired two facilities from Van Soest Coldstores (“Van Soest”), a Netherlands-based organization specializing in the storage and transfer of cooled and deep-frozen food products. Financial terms of the transaction were not disclosed.
Under the terms of the agreement, Lineage acquired Van Soest’s facilities in Venlo, Netherlands, and Rijkevorsel, Belgium, to complement the Company’s existing presence in both countries. Van Soest’s facility in Gamaren, Netherlands, a joint-venture and newly formed business, was not part of the transaction.
“Part of our strategy is to grow the Lineage facility network in strategic locations to provide our customers with best-in-class solutions that meet all of their cold storage and logistics needs. Bringing Van Soest Coldstores into the Lineage family helps us do just that,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage Logistics.
“We have found a strong European partner in Van Soest Coldstores, whose management shares our values and our drive to lead the cold storage industry. Anton Mauritz and his team have built an impressive business through their commitment to customer service, and we are excited to uphold their stellar reputation by supporting their expansion of the Rijkevorsel facility this fall,” said Mike McClendon, President, Lineage Europe and EVP, Network Optimization & Integration of Lineage Logistics.
The acquisition will add more than 10MM cubic feet and more than 300,000 square feet of storage capacity to Lineage’s portfolio after current expansions are completed, bringing Lineage’s total European cold storage capacity to nearly 200MM cubic feet across 23 facilities in England, Scotland, Belgium and the Netherlands.
“Over our 35-year history, Van Soest has become a trusted partner to many of Europe’s leading food manufacturers. We decided to join the Lineage family because of the Company’s impressive track record of building lasting relationships based on mutual respect with family businesses like Van Soest. I am proud to be a part of the Lineage network and look forward to helping the Company continue to grow as a strategic advisor,” said Anton Mauritz, Managing Director, Van Soest Coldstores.
Since the Company’s founding in 2008, Lineage has achieved sustained growth organically, through new construction and with acquisitions in the US and across the globe. This transaction builds on Lineage’s multiple successful acquisitions in Europe, including Yearsley Group, the leading temperature-controlled logistics service provider and frozen food distributor in the UK, and Partner Logistics, a leading automated cold storage provider in Europe. Most recently, Lineage completed the acquisition of US-based Preferred Freezer Services, which enhanced the Company’s presence in the U.S. and provided a new market entrance for the Company in Asia. Lineage globally now has over 1.4 billion cubic feet and nearly 40 million square feet of capacity across more than 200 facilities spanning North America, Europe and Asia to support customer supply chain needs worldwide.