Temperature-controlled warehouse operator Lineage Inc. said on a Wednesday quarterly call that its customers remain growth-oriented but acknowledged that food inventories have stabilized at lower levels.
Total throughput at its facilities hasn’t changed all that much since the pandemic, but customers are holding less inventory than they did prior to COVID. Food producers ramped production in 2022 in efforts to rebuild stock levels, but they overshot the mark and were left holding more...
This story has been updated.
Temperature-controlled logistics real estate investment trust Lineage Inc. said nearly 57 million shares of its common stock were priced at $78 per share ahead of its initial public offering on Thursday. The deal will haul in roughly $4.4 billion in proceeds, better than the $3.4 billion to $3.9 billion range previously expected.
A 30-day option for a 15% allotment (a little more than 8.5 million shares) has been granted to underwriters. The company said it will use...
https://www.freightwaves.com/news/cold-storage-reit-lineage-ipo-hauls-in-4-4b