DRV Corporate Finance supports Lineage Logistics in strengthening its market position in Europe through acquisitions
Lineage Logistics expands its cold storage facilities in Europe through the acquisition of Van Soest Coldstores N.V. in Rijkevorsel (Belgium) and Van Soest Coldstores Venlo B.V. (The Netherlands).
Lineage Logistics, LLC, the world’s largest and most innovative provider of temperature-controlled logistics solutions. Lineage acquired its first frozen food warehouse in December 2008. Today it operates over 200 facilities, with over 10,000 dedicated employees. Lineage serves customers across the food and perishable industries from Fortune 500 companies to growing regional food producers. The company handles and stores an assortment of products while also acting as a distribution partner for some of the largest and fastest growing food retailers. Lineage's transportation division provides integrated transportation solutions to solve some of the country's most complicated supply chains. Lineage is also active in other value-added areas of the temperature-controlled supply chain.
In 2017 Lineage strengthened its position in Europe by the acquisition of Partner Logistics, market leader in Europe in the cold storage market.
Due to the acquisition of the activities of the companies in the Netherlands and Belgium, Lineage Logistics further strengthens its market position in Europe.
“Part of our strategy is to grow the Lineage facility network in strategic locations to provide our customers with best-in-class solutions that meet all of their cold storage and logistics needs. Bringing Van Soest Coldstores into the Lineage family helps us do just that,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage Logistics. “We have found a strong European partner in Van Soest Coldstores, whose management shares our values and our drive to lead the cold storage industry. Anton Mauritz and his team have built an impressive business through their commitment to customer service, and we are excited to uphold their stellar reputation by supporting their expansion of the Rijkevorsel facility this fall,” said Mike McClendon, President, Lineage Europe and EVP, Network Optimization & Integration of Lineage Logistics.
Van Soest Coldstores has been active in the storage and transfer of cooled and deep-frozen food products since 1984. The group offers a total storage capacity of 75.000 pallet places. Van Soest has locations in Rijkevorsel, Venlo and Gameren. The location Gameren was not included in the transaction. We decided to join the Lineage family because of the Company’s impressive track record of building lasting relationships based on mutual respect with family businesses like Van Soest. I am proud to be a part of the Lineage network and look forward to helping the Company continue to grow as a strategic advisor,” said Anton Mauritz, Managing Director, Van Soest Coldstores.
DRV Corporate Finance
DRV Corporate Finance has conducted the financial and personnel due diligence. The due diligence team of DRV Corporate Finance consisted of Pieter Poortvliet and Arjen van de Velde.
Colleagues from DRV Accountants & Adviseurs and Moore Stephens Belgium supported the HR due diligence.
The due diligence was performed in close collaboration with Bay Grove, the principal investment firm backing Lineage.