cold storage M&A

Vertical Cold Storage acquires Detroit operator Arctic Logistics

Vertical Cold Storage announced the acquisition of Canton, Michigan-based Arctic Logistics on Wednesday, making it the sixth-largest cold storage company in North America.

The acquired location adds 140,000 square feet, 19 dock doors and more than 20,000 pallet positions to Vertical Cold’s network. The site is U.S. Department of Agriculture inspection-certified and provides storage temperatures ranging from negative 20 degrees to 40 degrees Fahrenheit.

The deal marks Vertical Cold’s fifth...

https://www.freightwaves.com/news/vertical-cold-storage-acquires-detroit-operator-arctic-logistics

Lineage finalizes acquisition of Bellingham Cold Storage

Temperature-controlled warehouse operator Lineage Inc. announced Tuesday that it has acquired Bellingham Cold Storage (BCS) and its three warehouses.

The facilities sit on the west coast of Washington at the Port of Bellingham and in Burlington, which are between the ports of Seattle and Vancouver, British Columbia. The combined footprint includes 85,000 pallet positions and 24 million cubic feet of space.

“This strategic acquisition positions us to better serve customers in the Pacific Northwest...

https://www.freightwaves.com/news/lineage-finalizes-acquisition-of-bellingham-cold-storage

Lineage reports ‘strong’ Q3 in first quarter as public company

Cold storage warehouse operator Lineage Inc. reported financial results Wednesday for the first time since becoming a public company. The Novi, Michigan-based real estate investment trust posted a $543 million net loss, which included numerous expenses tied to the initial public offering. Excluding certain items, adjusted funds from operations (AFFO) increased 20% year over year to 90 cents per share.

“We are excited to report strong results for our first quarter as a public company,...

https://www.freightwaves.com/news/lineage-reports-strong-q3-in-first-quarter-as-public-company

Running on Ice: Walmart moves south

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Hello, and welcome to the coolest community in freight! Here you’ll find the latest information on...

https://www.freightwaves.com/news/running-on-ice-walmart-moves-south

Burris Logistics acquires cold chain provider in latest deal

Refrigerated trailers at a warehouse

Honor Foods announced Monday the expansion of its food service distribution network in the western United States through acquisition. The company’s parent, Burris Logistics, acquired Los Angeles-based R.W. Zant, which specializes in the storage and distribution of meats and proteins.

The transaction reportedly closed Tuesday. Financial terms were not disclosed.

Zant primarily specializes in the redistribution of proteins and dairy brands to food service and retail distributors. Zant’s customer...

https://www.freightwaves.com/news/burris-logistics-acquires-cold-chain-provider-in-latest-deal

Lineage Logistics acquires visibility platform Turvo

A Lineage Logistics loading dock

Cold storage real estate investment trust Lineage Logistics announced Wednesday the acquisition of supply chain software provider Turvo. The deal will allow Turvo to accelerate its tech offering and to expand into new markets.

The transaction is an extension of a previous investment made by Lineage Ventures in the San Francisco area-based visibility provider. In January 2021, Lineage announced it would deploy Turvo’s technology throughout 200 facilities, with the eventual integration occurring...

https://www.freightwaves.com/news/lineage-logistics-acquires-visibility-platform-turvo

Lineage Logistics adds port locations in latest deal

A Lineage facility in Houston

Temperature-controlled storage provider Lineage Logistics announced Thursday the acquisition of MTC Logistics. The deal expands Lineage’s coverage at ports on the East and Gulf coasts. 

Baltimore-based MTC operates four cold storage facilities with 38 million cubic feet of space and more than 113,000 pallet positions near the ports of Baltimore, Philadelphia, Wilmington, Delaware, and Mobile, Alabama. MTC provides warehousing, blast freezing and import-export services in addition to its...

https://www.freightwaves.com/news/lineage-logistics-adds-port-locations-in-latest-deal

Cold storage operator RLS Logistics plants 2 flags with latest deals

Cold storage space still high on shopping lists

New Jersey-based RLS Logistics announced Wednesday it is now among the nation’s top 10 providers of temperature-controlled storage space and logistics networks following two acquisitions. Through its affiliate RLS Partners it recently acquired Hutt Trucking and Logistics and Performance Cold Storage.

Financial terms of the transactions were not disclosed. Both companies were renamed with the RLS moniker, becoming RLS Hutt and RLS Performance.

Holland, Michigan-based Hutt Trucking offers cold...

https://www.freightwaves.com/news/cold-storage-operator-rls-logistics-plants-2-flags-with-latest-deals

Cold chain 3PL RLS Logistics sees big expansion in 2022

Cold storage M&A to remain hot in 2022

One of the most active consolidators of cold chain facilities is a relatively new venture with old roots.

Founded in 1968, RLS Logistics started as a family-owned mushroom farm. It added a cold storage facility and then grew to include multiple facilities over time. Through a joint venture RLS Partners was formed with outside industry veterans a year and a half ago. The group has been actively rolling up family-owned cold chain warehouse and logistics providers since.

The need for...

https://www.freightwaves.com/news/cold-chain-3pl-rls-logistics-sees-big-expansion-in-2022

Food inventories ‘literally being eaten into,’ Americold says

Food stocks remain pressured as producers struggle to ramp production

Cold storage facility operator Americold Realty Trust (NYSE: COLD) said manufacturers still aren’t producing food products at pre-COVID levels and recent production activity isn’t keeping pace with demand. Food producers’ inventory is “literally being eaten into,” said Fred Boehler, president and CEO, on a Thursday evening call with analysts.

Demand for food and food consumption remains steady. However, food stocks held by Americold on behalf of its manufacturing customers, as well as food...

https://s29755.pcdn.co/news/food-inventories-literally-being-eaten-into-americold-says

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