December 02, 2020
The acquisition represents Lineage’s continued focus on growing its footprint to most efficiently serve customers in the Scandinavian and Nordic markets
Kloosterboer Norway is a leading temperature-controlled logistics services provider in Northern Europe
Novi, MI – Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider , today 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.
About Lineage Logistics
Lineage is the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, its unrivaled real estate network, and its use of technology combine to promote food safety, increase distribution efficiency, advance sustainability, lessen environmental impact, and minimize supply chain waste. As a result, Lineage helps customers ranging from Fortune 500 companies to small family-owned businesses increase the efficiency and protect the integrity of their temperature-controlled supply chain. Lineage has grown its cubic feet by 60% annually since 2008 to 1.9 billion cubic feet, making it the largest global temperature-controlled industrial REIT. In recognition of the company’s leading innovations, Lineage was recognized as the No 1. Data Science company on Fast Company’s Annual list of The World’s Most Innovative Companies in 2019, in addition to ranking 23rd overall in an evaluation of thousands of companies worldwide. ( www.lineagelogistics.com )
The Kloosterboer Group is a family-owned company with 95 years of experience in the handling of temperature-controlled food products, such as fish, meat, fruit, fruit juices /-concentrates, dairy and potato products. Kloosterboer develops and provides innovative and sustainable solutions in the supply chain for conditioned food products. Kloosterboer is committed to long-term relationships and wants to make cost savings for its customers and increase the level of service. The company is specialized in warehousing, stevedoring, forwarding, shipping, customs and logistics IT. With over 4,7 million m3 / 700.000 tonnes storage capacity in The Netherlands, Germany, France, Sweden, Canada and South Africa, Kloosterboer is one of the leading companies in this sector. ( https://www.kloosterboer.com/nl/ )
About Bay Grove
Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers 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 )