Lineage Logistics, LLC. (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, announced it has acquired leading New Zealand cold storage business, Cold Storage Nelson Limited (“CSN”). Financial terms of the transaction were not disclosed.
“CSN has industry-leading skills in inventory control, compliance and traceability”
“CSN has industry-leading skills in inventory control, compliance and traceability,” Mr. Jeff Rivera, Lineage’s Global Chief Operations Officer, said. “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.”
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Mr. Rivera said 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.
Lineage in New Zealand now has 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.
Mr. Rivera said Lineage, as an internationally integrated company, was acutely focused on further building out its New Zealand and Asia-Pacific footprint so customers could take advantage of Lineage’s leading global end-to-end logistics capability.
Lineage Logistics is one of the world’s leading temperature-controlled industrial REITs and logistics solutions providers. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 20 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was a 2022 U.S. Best Managed Company, No. 3 in the 2022 CNBC Disruptor 50 list, No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020.