Lineage Logistics in Novi, the world’s largest temperature-controlled industrial real estate investment trust (REIT) and logistics solution provider, announced today it has closed on the acquisition of UTI Forwarding, a Rotterdam, Netherlands-based freight forwarder. Plans for the acquisition were first announced April 26.
UTI is a leading freight forwarding company — which arranges cargo shipments on behalf of the shipping company — that specializes in the exporting and importing of full container load cargo, handling both temperature-controlled and other containerized goods.
“Together with UTI we will create even greater opportunities to provide end-to-end supply chain offerings for our shared customers,” says Mike McClendon, president of international operations and executive vice president of network optimization at Lineage. “We are thrilled to close on this acquisition and officially welcome UTI into the Lineage family.”
The acquisition marks Lineage’s entrance into the European freight-forwarding market, expanding its end-to-end supply chain offerings by advancing operational efficiency for the movement of goods through its global warehouse network of over 340 facilities in 15 countries across North America, Europe, Asia, and South America.
Lineage was recently ranked as the No. 1 data science company and No. 23 overall company on Fast Company’s 2019 list of The World’s Most Innovative Companies. It also is partnered with Feeding America, a nationwide food network with more than 200 food banks that feed over 50 million people annually.
Terms of the deal were not disclosed.