Novi, Michigan, USA: Lineage has raised $4.44bn in its US initial public offering, the company said this week. Investors say it is the largest IPO so far this year. The company priced just under 57m shares in New York at $78 per share. Its shares will begin trading on Nasdaq today (July 25).
Lineage operates 482 temperature-controlled warehouses across the world, totaling over 84.1m sq ft of capacity It has over 13,000 customers, many of them involved in the food supply chain as distributors, retailers and manufacturers.
Private equity executives Adam Forste and Kevin Marchetti launched the business as one warehouse in Seattle in 2008. They have since made 116 acquisitions and generated $5.3bn in revenue in 2023, according to Reuters.
