Forget “two is better than one.” How about four? Lineage Logistics recently announced it added four new facilities with the acquisition of cold-chain provider MTC Logistics. The facilities are located in Baltimore, Maryland; Wilmington, Delaware; and Mobile, Alabama.
“MTC Logistics’ strong presence at key ports along the U.S. East and Gulf Coasts and focus on best-in-class service and innovation will help better connect our customers to the global food supply chain,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage Logistics. “We look forward to welcoming the MTC team into the One Lineage family and leveraging their expertise to fulfill our vision of becoming the world’s most dynamic temperature-controlled logistics company.”
Lineage is adding nearly 38 million cubic feet of capacity and over 113,000 pallet positions through this acquisition. The four facilities expand Lineage’s footprint of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity across 19 countries.
MTC Logistics, a wholly owned subsidiary of Hoffberger Holdings, is recognized as one of the International Association of Refrigerated Warehouses (IARW) North American Top 25. According to a press release, the company provides warehousing services including blast freezing, import/export services, case selection, transportation/port drayage, and storage between -20 degrees Fahrenheit and +40 degrees Fahrenheit.
“As part of MTC’s nearly century-long commitment to the refrigerated and frozen warehousing and transportation industry, we have always sought opportunities to be a warm, responsive, and dedicated partner to our customers,” said Harry Halpert, Chairman of MTC Logistics and Chief Executive Officer of Hoffberger Holdings. “Our customers and associates will benefit from Lineage’s scale and industry-leading technology, and we are fortunate to find a strong partner who shares our values and customer-centric approach.”
G2 Capital Advisors and Whiteford, Taylor & Preston served as financial and legal advisors to MTC, respectively. Financial terms of the transaction were not disclosed.
A round of applause for Lineage Logistics! We will keep our eyes to the wire as new milestones come to light.