Novi-based Lineage Logistics, a global temperature controlled industrial real estate investment trust and logistics solutions provider, has acquired Poland’s Pago Sp. z o.o., a warehousing, distribution, and transport logistics provider. Details of the transaction were not disclosed.
The acquisition from its current ownership, including Tönnies International Holding GmbH in Germany, marks Lineage’s entrance into the Polish market and adds six assets to the company’s network of temperature-controlled facilities.
“We are excited to enter Poland by acquiring Pago, which is known for its dedicated team members, the most modern network in its market, and an entrepreneurial culture with roots as a family business – just like so many of the organizations we’ve embraced as part of our One Lineage family,” says Mike McClendon, president of international operations and executive vice president network optimization.
“The acquisition also expands the Lineage footprint to an increasingly important market for our customers and a region where we see opportunities to add capacity and implement new, innovative customer solutions.”
The combined company will feature more than 1.9 billion cubic feet of temperature-controlled capacity across more than 330 facilities in 15 countries in North and South America, Europe, Asia, Australia, and New Zealand.
“We are very pleased to partner with the current Pago leadership, who have helmed the organization since 2006 based on an ethos of reliability, quality, and commitment to the customer while growing it to become the largest and most modern cold storage company in Poland,” says Adam Forste, co-executive chairman of Lineage and co-founder and managing partner of Bay Grove Capital, a principal investment firm that founded and manages Lineage.
“Pago leaders Adam, Patryk, and Maciej Gościniak will continue with the business and help Lineage drive further growth in this critical and strategic region. We would like to thank Tönnies for their efforts in support of this transaction.”
Pago offers warehouse and distribution logistics and works with manufacturers of frozen food, international companies, and retail chains. One of its facilities is in the Baltic Sea Port of Gdańsk, directly in the Deepwater Container Terminal, making Pago a link in the global supply chain of frozen food.
In related news, Lineage announced the acquisition of the Kloosterboer Norway facility, located outside of Oslo. Terms of the deal were not disclosed.
“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,” says McClendon. “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.”
The acquisition follow’s Lineage’s entrance into Norway in October and its entrance into the Scandinavian region in June.
“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,” says Stephane Pluenet, executive director of automation for Kloosterboer. “Because the Nordics are not a key development market in this strategy, we are pleased to sell Kloosterboer Norway to Lineage.”