Lineage

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

Layoffs hit more than 7,100 workers tied to freight industry in US, Canada

Mass layoffs continue across freight-related companies in the U.S. and Canada. 

There were 7,173 job cuts recently announced by companies in California, Texas, Georgia, Maryland, Tennessee, Massachusetts, Wisconsin and Quebec.

It is the fifth wave of layoffs across the nation’s supply chain industry since early October, with a total of 16,919 workers losing their jobs, according to firms filing Worker Adjustment and Retraining Notification (WARN) Act notices.

Over the past eight weeks, companies...

https://www.freightwaves.com/news/layoffs-hit-more-than-7100-workers-tied-to-freight-industry-in-us-canada

Running on Ice: Acquisitions and frozen ravioli desserts

All thawed out
(Photo: Jim Allen/FreightWaves)

2024 has been an absolute banger year for Lineage. After going public with the most successful IPO of the year, it’s back with yet another acquisition. This time it’s ColdPoint Logistics, a Kansas City, Kansas-based cold storage company.

The exact terms of the deal were not disclosed, but it is the largest acquisition since the company went public earlier this year. The new facility is 621,000 square feet and has more than 62,000 pallet positions,...

https://www.freightwaves.com/news/running-on-ice-acquisitions-and-frozen-ravioli-desserts

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: Lineage grows and Thanksgiving food gets weird

All thawed out
(Photo: Jim Allen/FreightWaves)

Another month, another expansion for Lineage. Following the largest IPO of the year, the cold chain giant celebrated the opening of its fully automated cold storage warehouse in Hazle Township, Pennsylvania. The new warehouse joins the 80-plus facilities in the network of automated warehouses. 

The new facility is 386,000 square feet and includes about 85,000 pallet positions. It’s ideal for temperature-controlled food products. Lineage isn’t...

https://www.freightwaves.com/news/running-on-ice-lineage-grows-and-thanksgiving-food-gets-weird

Lineage to share $100M from IPO proceeds with employees

Cold storage warehouse operator Lineage Inc. said it plans to share $100 million from the proceeds of its successful initial public offering with employees.

The Novi, Michigan-based real estate investment trust said Thursday that many of its 16,000 U.S. workers will receive one-time stock awards or restricted stock units (RSUs) following its July 25 debut on Nasdaq.

Shares of Lineage (NASDAQ: LINE) opened last week at $82 per share, the top end of the initial price range ($70 to $82) after...

https://www.freightwaves.com/news/lineage-to-share-100m-from-ipo-proceeds-with-employees

Running on Ice: An IPO gold rush for Lineage

This year’s Future of Freight Festival takes place Nov. 19-21 in Chattanooga, Tennessee. But it’s not your average conference. Sure, there are wonderful speakers and fireside chats. But that’s only half the fun. F3 is set up with half-days of speakers and amazing content. The other half we take over downtown Chattanooga, and there are events, networking and a lot of fun to be had by all. This year, subscribers to Running on Ice get a promo code exclusive to us! You can register with this link...

https://www.freightwaves.com/news/running-on-ice-an-ipo-gold-rush-for-lineage

Lineage IPO could deliver $3.9B in proceeds

Cold storage real estate investment trust Lineage Inc. announced the pricing of its initial public offering on Tuesday, which values the company at roughly $19 billion.

The offering includes 47 million shares of common stock and a customary 30-day, 15% option (an additional 7.05 million shares) to deal underwriters. The company’s stock will be listed on the Nasdaq under the ticker “LINE.” The price range was set at $70 to $82 per share.

Net proceeds ranging from $3.4 billion to $3.9 billion...

https://www.freightwaves.com/news/lineage-ipo-could-deliver-3-9b-in-proceeds

Cold storage REIT Lineage files for IPO

The world’s largest temperature-controlled real estate investment trust, Lineage Inc., has filed for an initial public offering. Neither an estimated price range for the shares nor the size of the offering was announced.

Lineage’s IPO was previously reported to fetch the company a valuation of more than $30 billion.

The company plans to list its stock on the Nasdaq under the ticker “LINE.”

Novi, Michigan-based Lineage operates more than 480 warehouses with 3 billion cubic feet of space across...

https://www.freightwaves.com/news/cold-storage-reit-lineage-files-for-ipo