cold storage M&A

Running on Ice: Walmart moves south

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

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

Lineage Logistics fattens coffers again with $1.9B funding round

Fresh funding will fuel portfolio expansion

The largest temperature-controlled logistics provider in the world, Lineage Logistics, announced Thursday it has raised $1.9 billion in equity from various investors. Lineage plans to use the capital to fund various new developments, facility expansions and tech initiatives. The company will also use the money to remain active acquiring smaller cold storage operators.

The latest funding round adds to the $1.6 billion equity raise the company completed in September, bringing the total to $4.3...

https://www.freightwaves.com/news/lineage-logistics-fattens-coffers-again-with-1-9b-funding-round

Americold closes on $1.74B bid for Agro

Agro deal adds 46 facilities to Americold network

Temperature-controlled warehouse owner Americold Realty Trust (NYSE: COLD) announced the closing of its acquisition of Agro Merchants Group, the world’s fourth-largest cold storage operator. The $1.74 billion transaction was previously announced in mid-October.

The deal adds 46 facilities and 236 million cubic feet of refrigerated space to Americold’s network, which now includes 239 facilities with 1.41 billion cubic feet of cold storage.

Founded in 2013, the Netherlands-based Agro built a...

https://s29755.pcdn.co/news/americold-closes-on-174b-bid-for-agro

TorQuest acquires Canada cold storage giant VersaCold

VersaCold Logistics tractor-trailers at a loading dock. TorQuest acquired VersaCola, a large Canadian cold storage provider.

Private equity firm TorQuest Partners has acquired VersaCold Logistics Services, one of Canada’s largest cold storage and logistics companies, in a deal that reflects the strong growth opportunities in the Canadian market.

Toronto-based TorQuest, in partnership with the Canadian pension funds Investment Management Corporation of Ontario (IMCO) and OPTrust, purchased VersaCold from KingSett Capital and Ivanhoe Cambridge. The price and terms were not disclosed for the transaction, which was announc...

https://s29755.pcdn.co/news/torquest-acquires-canada-cold-storage-giant-versacold

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.