Lineage Logistics in Novi, a global temperature-controlled industrial real estate investment trust (REIT) and logistics solutions provider, has announced it has acquired Cold Storage Nelson Limited (CSN) and closed its previously announced acquisition of VersaCold Logistics Services. Financial terms of the transaction were not disclosed.
CSN will connect Lineage Logistics with New Zealand’s cold storage logistics chain to further strengthen Lineage’s presence in Asia-Pacific, offering customers an expanded New Zealand network and linking them to a global network allowing for further growth in the region.
“CSN has industry-leading skills in inventory control, compliance and traceability,” says Jeff Rivera, global COO at Lineage. “CSN’s facilities, combined with our industry-leading technology and innovation, will assist New Zealand customers to navigate increasing supply chain demands in New Zealand and internationally. We look forward to working closely with CSN’s customers on these new opportunities.”
Rivera claimed that expanding Lineage’s footprint in Asia-Pacific through New Zealand, as a major primary produce exporting nation, has been a long-term strategic goal for the company so customers could take advantage of their global end-to-end logistics capability.
Lineage in New Zealand has now integrated assets in Auckland, Tauranga, Hawkes Bay, Nelson, Christchurch, Timaru, and Dunedin.
Consistent with Lineage’s commitment to sustainable practices, CSN has made major advances in energy efficiency by using advanced process control and design to ensure minimal usage and sophisticated purchasing of energy.
In related news, Lineage Logistics has closed its previously announced acquisition of VersaCold Logistics Services.
VersaCold is a Canadian cold chain solution provider that operates 24 temperature-controlled facilities spanning 114 million cubic feet of capacity across nine provinces. Its strategically-positioned network includes properties in Canada’s most populous metropolitan markets – including Toronto, Calgary, Vancouver, Edmonton, and Montreal
VersaCold also runs an asset-based inbound and outbound transportation business out of nine terminals across the country, providing customers an integrated, coast-to-coast logistics solution.
“Welcoming VersaCold into the Lineage family extends our Company’s reach in Canada and creates exciting opportunities to provide more efficient cross-border solutions for customers in North America and beyond,” says Greg Lehmkuhl, president and CEO of Lineage Logistics.
“The combination of our complementary facility networks, our differentiated and fully integrated transportation offerings and our world-class teams creates an even more dynamic global organization – one that is committed to our purpose of transforming the food supply chain to eliminate waste and help feed the world.”
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