The transaction would increase Lineage’s global footprint by about 8%, to more than 1.7 billion cubic feet of capacity. The biggest companies in the fragmented sector are racing to expand domestically and overseas as demand for cold storage space outpaces supply. Lineage, which is controlled by San Francisco-based Bay Grove Capital, has grown rapidly in recent years through a series of increasingly large acquisitions. The Novi, Mich., company has made nearly 40 acquisitions since its 2008 founding, and moved into the international market in 2017 by buying Partner Logistics, a large European temperature-controlled storage provider with automation expertise. Emergent Cold was founded in 2017 and has since become the ninth-largest global cold-storage provider by space, according to IARW, with locations in Australia, New Zealand, Sri Lanka and Vietnam.

Source: Wall Street Journal November 18, 2019 19:30 UTC