Lineage finalizes acquisition of Bellingham Cold Storage
Temperature-controlled warehouse operator Lineage Inc. announced Tuesday that it has acquired Bellingham Cold Storage (BCS) and its three warehouses.
The facilities sit on the west coast of Washington at the Port of Bellingham and in Burlington, which are between the ports of Seattle and Vancouver, British Columbia. The combined footprint includes 85,000 pallet positions and 24 million cubic feet of space.
'This strategic acquisition positions us to better serve customers in the Pacific Northwest and beyond,' said Brian Beattie, president of North America West at Lineage. 'Bellingham has long been a cornerstone of the seafood and agriculture industries, and these facilities will allow us to offer additional supply chain solutions for our customers.'
The deal boosts Lineage's Pacific Northwest network to 40 locations across Washington, Oregon and Idaho.Financial terms of the transaction were not provided.
The deal first surfaced in March but required approval from the Port of Bellingham, where BCS has a 50-year lease.
'Between the Port's ongoing modernization project and the fantastic, dedicated BCS team members who will join the Lineage team, we have many reasons to be excited about this acquisition,' Beattie said. 'Lineage is better positioned than ever to be the premier cold chain partner in the Pacific Northwest.'
Novi, Michigan-based Lineage (NASDAQ: LINE) manages 488 facilities with 3.1 billion cubic feet of space across North America, Europe and the Asia-Pacific region. It also provides freight forwarding, customs brokerage, drayage and truck transportation.More FreightWaves articles by Todd Maiden:
March supply chain data craters following inventory pull-forward
Yellow's new bankruptcy plan revealed, next steps still uncertain
Truckload earnings estimates cut as Q1 draws to a close
The post Lineage finalizes acquisition of Bellingham Cold Storage appeared first on FreightWaves.
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