Lineage Logistics Acquires Preferred Freezer Services
Lineage Logistics, a provider of temperature-controlled logistics solutions, signed a definitive agreement to acquire Preferred Freezer Services, a global network of temperature-controlled warehouses. The combined company will operate more than 1.3 billion ft3 of temperature-controlled capacity across 200 facilities in North America, Europe and Asia.
The deal will increase Lineage’s ability to invest in new technologies while advancing the companies’ combined intellectual property. After the combination, Novi, Mich.-based Lineage will have 17 automated facilities with over 800,000 automated pallet positions, including what it says are the two largest automated facilities in the world.
Chatham, N.J.-based Preferred Freezer Services operates 39 locations throughout the United States with additional international sites in China and Vietnam.
The transaction is expected to close in the second quarter.