cold storage M&A

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

Lineage stretches cold storage footprint to Poland

Lineage expands into Poland

The world’s largest temperature-controlled logistics provider, Lineage Logistics, announced Tuesday the acquisition of Poland’s largest cold storage and logistics provider, Pago Sp. z o.o.

Through the acquisition, the Novi, Michigan-based real estate investment trust expands its European footprint to include Poland. Lineage will be acquiring six properties from Pago’s current ownership group, which includes Tonnies International Holding GmbH, in the transaction.

Financial terms of the deal were...

https://www.freightwaves.com/news/lineage-stretches-cold-storage-footprint-to-poland

Americold announces more acquisitions; Q3 in line

Americold facility

Cold storage warehouse operator Americold Realty Trust (NYSE: COLD) announced Thursday after the market closed another large acquisition as well as a few expansion projects.

The news was part of the Atlanta-based real estate investment trust’s third-quarter earnings report, which was in line with analysts’ expectations of core funds from operations (FFO) of 28 cents per share. The result was a penny higher year-over-year and 2 cents higher on an adjusted basis.

Americold geography continues to...

https://s29755.pcdn.co/news/americold-announces-more-acquisitions-q3-in-line

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