Novi’s Lineage Logistics Acquires Spanish Cold Storage Business

Lineage Logistics in Novi, a global temperature-controlled real estate investment trust (REIT) and logistics solutions provider, today announced the acquisition of Grupo Fuentes, an operator of transport and cold storage facilities in Murcia, Spain. Terms of the deal were not disclosed.
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Novi's Lineage Logistics has continued its European expansion with the addition of Spain's Grupo Fuentes. // Courtesy of Grupo Fuentes
Novi’s Lineage Logistics has continued its European expansion with the addition of Spain’s Grupo Fuentes. // Courtesy of Grupo Fuentes

Lineage Logistics in Novi, a global temperature-controlled real estate investment trust (REIT) and logistics solutions provider, today announced the acquisition of Grupo Fuentes, an operator of transport and cold storage facilities in Murcia, Spain. Terms of the deal were not disclosed.

Grupo Fuentes operates a fleet of more than 500 vehicles and trailers, 6 logistics centers, a cold storage warehouse, and services supporting those facilities. It is also a founding member of Reefer Terminal, a strategic partnership to create an intermodal transportation platform combining road and rail cold-storage transport services.

“My father started the company with just one truck more than 30 years ago and the business has grown into one of Spain’s leading providers of transportation and logistics services. I am proud to look forward to having the company form part of Lineage, as part of a global group at the forefront of innovation in the sector,” says Rafael Fuentes, CEO of Grupo Fuentes.

“The Fuentes family is expected to continue to lead Lineage’s business in Spain, and will play a leading role in Lineage in Spain and in the expansion of Lineage’s road transportation network across Europe, and oversee the integration of Grupo Fuentes into the Lineage family.”

It also has offices in Galicia, Madrid, Navarra, and Valencia in Spain, and the Netherlands. The company counts some of Spain’s major food and retail companies as customers, with a significant share of the business providing cold storage, transport, and international transport services covering Belgium, France, Germany, Italy, the Netherlands, Portugal. and the U.K.

“Spain is a major food producer in Europe, and our expanded presence there through the acquisition of Grupo Fuentes will allow us to manage a strategic connection between Southern Europe and Northern Europe, where Lineage has a strong existing footprint,” says Harld Peters, president of Europe at Lineage.

“Grupo Fuentes will accelerate our ongoing expansion into transport services, which will enable us to deliver end-to-end solutions for our customers throughout the Lineage network and Europe broadly.”

Grupo Fuentes has a cold-storage warehouse in Murcia with 60,000 pallet positions and plans to expand the site with an additional 40,000 pallet positions.

Lineage first entered Spain in May 2021, with the acquisition of Frigoríficos de Navarra warehouses in Navarra and Asturias. The acquisition of Grupo Fuentes and its transport fleet is a complement to Lineage’s recent expansion of its European warehouse facilities.

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