Lineage Inc. in Novi, the world’s largest global temperature-controlled warehouse real estate investment trust (REIT), today announced plans to expand its U.S. cold-storage network via the acquisition of existing cold storage warehouses from Ohio-based Tyson Foods, greenfield developments, and enhanced automation implementation.
“This expansion signals what we see as the next evolution of cold chain operations and reflects the growing demand for smarter, more responsive supply chain networks,” says Greg Lehmkuhl,
president and CEO of Lineage. “We’re creating more than cold storage infrastructure — we’re setting the foundation for agile, intelligent supply chains built for resilience and precision.”
Lineage will acquire and take over operations of four existing cold storage warehouses and other related assets from Tyson Foods for $247 million. These warehouses total approximately 49 million cubic feet with 160 thousand pallet positions, and are located in Pottsville, Penn.; Olathe, Kan.; Rochelle, Ill.; and Tolleson, Ariz.
The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2025.
“We’re proud to partner with our valued customer on these landmark agreements, leveraging our global footprint, data-driven approach, LinOS, and automation technology,” Lehmkuhl says. “This is just another example of the unique value we can add to our customers.”
Following the acquisition, Lineage plans to onboard more than 1,000 of Tyson Foods’ employees, demonstrating what Lineage calls a shared commitment to a values-based culture and service excellence.
At or prior to closing the acquisition agreement, Lineage will enter into an additional, multi-year agreement under which it will invest more than $740 million to design, build, and operate two next-generation, fully automated cold storage warehouses in major U.S. distribution markets, which Tyson Foods will occupy as an anchor customer.
The developments will add more than 80 million cubic feet and nearly 260 thousand pallet positions, expanding Lineage’s scalable logistics capacity across its network.
Over time, as the newly constructed warehouses commence operations, the acquired warehouses will transition to public warehouses as part of Lineage’s global footprint.
In Related News: Lineage reported total revenue of $1.2 billion in the first quarter of 2025, a decrease of 2.7 percent from a year ago. The company also declared quarterly dividend of $0.5275 per share, representing annualized dividend rate of $2.11 per share.
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