Lineage Logistics Holdings in Novi, a global leader in providing temperature-controlled supply chain solutions, today announced it has acquired Yearsley Group Limited, a large temperature-controlled logistics service provider and frozen food distributor in the UK. Financial terms of the transaction were not disclosed.
Since its founding in 2008, Lineage has evolved through both acquisitions and organic growth. The company’s acquisition of Yearsley builds on the success of its first international acquisition in 2017 in which Lineage acquired Partner Logistics, a leading automated cold storage provider in Europe.
In its 66-year history, Yearsley has grown to become one of the largest temperature-controlled logistics providers in the UK, operating a network of 12 cold stores nationwide. The company’s customer base includes major retail and foodservice national accounts, and blue-chip manufacturers.
“Bringing Yearsley into the Lineage family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities,” says Greg Lehmkuhl, president and CEO of Lineage Logistics.
With over 300 vehicles, Yearsley complements its cold storage solutions with value-added transportation services, following a similar model to Lineage’s US-based operations.
“Our acquisition by Lineage is a tremendous opportunity for Yearsley customers and employees alike,” says Jonathan Baker, CEO of Yearsley Group. “Lineage’s commitment to innovation and service is unmatched, and we are excited to strengthen our ability to partner and grow with customers on a global scale unlike ever before.”
Also included in the transaction is Yearsley Food, a national frozen food supplier that supports customers across retail, food service, food manufacturing, and export channels.
As part of the transaction, Rabobank acted as lead financial advisor, Houlihan Lokey acted as financial advisor, and Latham & Watkins acted as legal counsel to Lineage Logistics. KPMG Corporate Finance acted as financial advisor and Gateley plc acted as legal counsel to Yearsley Group.
Lineage’s customers range from Fortune 500 companies to small family-owned businesses.