COLTON, Calif. — Lineage Logistics (“Lineage”), a warehousing and logistics company backed by Bay Grove, announced that it has completed the acquisition of Loop Cold Storage (“Loop”), Oneida Cold Storage (“Oneida”) and Millard Refrigerated Services (“Millard”), which was previously announced in March. With these three acquisitions, Lineage expands its national cold storage footprint to over 544 million cubic feet and a facility network of 102 facilities in 21 states. Financial terms of the transactions were not disclosed.
Based in McAllen, TX, Loop has the largest cold storage operation on the U.S.-Mexico border servicing the imports of fruits and vegetables and specializing in the international produce trade. In addition to cold storage services, Loop provides value-added packaging and cooler services for produce distributors. Former owner John McGuire has joined Lineage’s management team as VP of Fresh Business to focus on developing Lineage’s fresh services segment.
Headquartered in Henderson, CO, Oneida is the largest cold storage provider in the Denver metropolitan area. At over 400,000 square feet, Oneida’s state-of-the-art facility provides customers with a variety of services including custom freezing programs, multi-temperature storage, tempering services, and retail distribution solutions.
“The addition of Millard, Loop, and Oneida represent another transformational moment for Lineage and continues our long-term strategy to build the leader in temperature controlled logistics,” said Kevin Marchetti, Managing Director of Bay Grove.
“We are thrilled to officially welcome the newest members to the Lineage family,” said Bill Hendricksen, CEO of Lineage Logistics. “We look forward to continuing our commitment to our customers by offering innovative, creative, and customizable logistics solutions as a unified organization.”
About Lineage Logistics: Lineage Logistics is one of the largest temperature-controlled warehousing and logistics companies in the world. The company was founded through the combination of premier, temperature-controlled warehousing companies, some of whose roots date back to the early 1900s. Today, all its companies are unified with a shared vision of being the leading national supply chain company serving the nation’s food, retail, agriculture and distribution companies. (www.lineagelogistics.com)
About Loop Cold Storage: Based in McAllen, TX, Loop Cold Storage is the largest cold storage operation on the U.S.-Mexico border and a leader in supply chain services for food imports in south Texas. Providing over 12MM cubic feet of refrigerated storage capacity, Loop is a major freezer, cooler, and packaging provider that serves primarily fruits and vegetables.
About Oneida Cold Storage: Based in Henderson, CO, Oneida Cold Storage is the largest state-of-the-art, USDA-inspected facilities in the Denver metropolitan area. Providing over 17MM cubic feet of refrigerated and dry storage capacity, Oneida can meet the demands of all food types with its custom freezing programs, multi-temperature storage, tempering services, and retail distribution solutions.
About Millard: Millard Refrigerated Services is the third largest temperature-controlled warehousing and logistics company in North America. Millard Refrigerated Services was founded in 1963, in Omaha, NE. The company serves the U.S. food industry through a network of 30 regional temperature-controlled warehouse and distribution facilities. In addition to cold storage warehousing and transportation, Millard provides clients with a wide variety of other value-added services and logistics support. (www.millardref.com)
About Bay Grove Capital: Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Over the last five years, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, managers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)
Source: Lineage Logistics