Lineage Logistics, LLC ("Lineage"), international warehousing and logistics company backed by Bay Grove, LLC (“Bay Grove”), announced it has acquired eight temperature-controlled warehouses from U.S. Growers Cold Storage (“Growers”). With the acquisitions, Lineage adds significant capacity to its expansive facility network in Southern California, providing increased storage flexibility and greater access to value-added solutions for its customers. Financial terms of the transactions were not disclosed.
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The eight locations acquired from Growers encompass over 12 million cubic feet of capacity in the Los Angeles area and are accessible to Southern California’s major freeways, rail facilities and ocean container terminals, including the 250,000 square-foot transload facility Lineage operates in the Port of Long Beach’s overweight corridor. With the acquisition, Lineage strengthens its ability to customize high-impact supply chain solutions for customers by leveraging its expanded Southern California facility network of over 20 locations.
In addition to the acquisition, Lineage will continue Growers’ existing expansion plans to add over 25,000 pallet positions to its capacity over two phases. The initial phase is targeted for completion in May 2018.
The Growers acquisition and its subsequent growth plans are announced on the heels of Lineage’s acquisition of two cold storage facilities from American Cold Storage (“American”). Located in Boonville, Indiana and Louisville, Kentucky, the acquired facilities add over 8 million cubic feet of capacity to Lineage’s facility network and serve as a complement to its nearby warehouses in the Midwest region. American will continue to own its facilities in Humboldt and Jackson, Tennessee independently.
In sum, Lineage adds more than 20 million cubic feet of capacity to its international facility network through these two acquisitions.