Novi, Michigan, USA: Lineage Logistics has acquired Emergent Cold in a $900m deal.
The deal, first announced in November, marks Lineage’s entry into the Australia, New Zealand and Sri Lanka markets, further expanding the reach of the world’s largest temperature-controlled logistics company.
“Welcoming Emergent Cold and New Orleans Cold Storage to the Lineage family provides a dramatically expanded footprint of facilities in the Asia-Pacific region and further connects our customers’ global supply chains through one network as a result,” Mike McClendon, president of international operations, Lineage, said in a press release.
Emergent has 46 cold stores in six countries including the US, Australia, New Zealand and Sri Lanka. In the US, Emergent operated a distribution center in Texas and four port locations in New Orleans, Houston and Charleston, SC countries.
Lineage acquired Emergent Cold from New York-based hedge fund Elliott Management Corp.
“With many of the acquired facilities located in key domestic and international ports, we are better positioned than ever to more efficiently serve our customers in nearly every corner of the world. We look forward to building on Emergent’s exciting growth and, in turn, playing a key role in helping our customers grow their respective businesses,” McClendon said.
Lineage now operates 1.9 billion-cubic-feet of cold-storage warehousing space across with more than 300 sites in 12 countries.
