Lineage Logistics, LLC, the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, announced the acquisition of the Kloosterboer Norway facility. Terms of the deal were not disclosed.
The Kloosterboer Norway facility totals 17,500 pallet positions and is strategically located outside of Oslo where it is well-positioned to serve both food producers and retailers. The facility’s structural design provides a highly efficient use of the volume in the cold store, allowing Lineage to continue executing its purpose to transform the food supply chain to eliminate waste and help feed the world.
“We’re excited to bring the Kloosterboer Norway facility into the Lineage network to enable us to further serve and reach customers in the Northern European region,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “Kloosterboer, founded in 1925, is a strong and independent family business and we welcome the team at the Kloosterboer Norway facility to the Lineage family.”
“Kloosterboer’s strategy is to be an integrated supply chain partner for its customers, which is leading us in the direction of building multiple new locations in a short period of time. Because the Nordics are not a key development market in this strategy, we are pleased to sell Kloosterboer Norway to Lineage,” said Stephane Pluenet, Kloosterboer’s Executive Director of Automation.
The acquisition follows Lineage’s entrance into Norway in October 2020, and more broadly, Lineage’s entrance into the Scandinavian region in June 2020. The acquisition also contributes to the strategic expansion of Lineage’s facility network across Europe. Following the close of this transaction, the combined Company will feature a global footprint that spans over 1.9 billion cubic feet of temperature-controlled capacity across over 330 facilities in 14 countries spanning North America, Europe, Asia, Australia, New Zealand, and South America.
Ro Sommernes acted as legal advisor to Lineage.
