Michigan-based Lineage Logistics, a provider of temperature-controlled logistics solutions, signed a definitive agreement to acquire Chatham-based Preferred Freezer Services, a global network of state-of-the-art, temperature-controlled warehouses.
Following the closing, the combined company will feature over 1.3 billion cubic feet of temperature-controlled capacity across over 200 facilities, with a global footprint that spans North America, Europe and Asia. At present, Lineage and Preferred have highly complementary real estate and customer bases, making their combination a strategic expansion into new markets and new service offerings.
“We are thrilled to welcome Preferred into the Lineage family of companies,” said Greg Lehmkuhl, president and chief executive officer of Lineage. “Bringing their first-class management team, deep industry experience and network of strategically located facilities into our organization will enable us to provide best-in-class service offerings for customers worldwide. Lineage is now better positioned than ever to meet the needs – and exceed the expectations – of food customers on a truly global scale.”
According to John Galiher, chief executive officer of Preferred, “Joining Lineage will bring Preferred to the next level of customer service by broadening our global reach while also significantly expanding our innovation capabilities. I am tremendously proud of the company we have built and longstanding customer relationships we have fostered since founding Preferred Freezer Services in 1989. We have found the ideal partner in Lineage, and I look forward to working closely with Greg, as well as the Lineage and Bay Grove teams, to offer our expanded customer base the best services and capabilities in the industry.”
The transaction will increase Lineage’s ability to invest in next-generation technologies while making new advances using the companies’ combined intellectual property. After the combination, Lineage will have 17 automated facilities with over 800,000 automated pallet positions, including the two largest automated facilities in the world and an accelerating strategy to bring the most sophisticated automated solutions to meet ever growing customer demands and complexity.
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