Lineage Logistics’ ongoing acquisition streak seems to be far from over, as the company recently revealed its acquisition of leading provider of supply chain management, collaboration, and visibility software Turvo.
“Lineage’s acquisition of Turvo was a natural extension of our partnership, through which we successfully launched Lineage Link™ last year,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage. “We wholeheartedly believe in Turvo’s mission to increase visibility and synergies within the supply chain, and we see this as an opportunity for additional value creation for both Lineage and Turvo customers. I look forward to leading the new Turvo Board of Directors and working with leadership to advance its roadmap to drive smarter, more sustainable supply chains.”
Following this acquisition, Turvo will accelerate innovation in its technology offering and expand into new and adjacent markets under its own brand as a wholly owned subsidiary of Lineage.
With Lineage and Bay Grove’s backing, Turvo will be able to accelerate innovation with greater reach and scale, therefore advancing supply chain digitalization globally, noted Turvo’s Chairman and Chief Executive officer, Scott Lang.
“Deepening our relationship with Turvo shows how committed we are to innovation that furthers our purpose of transforming the food supply chain to eliminate waste and help feed the world,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. “Through this investment, we will accelerate industry-leading technology that leverages supply chain synergies at scale, addressing issues of density and utilization across the network, and decreasing complexity and waste in the supply chain for all participants, from customers to shippers to carriers.”
Sudarsan Thattai, Lineage’s Chief Information Officer and Chief Transformation Officer, also commented on the company’s capabilities moving forward.
“The acquisition comes amid a spike in demand for transportation and warehousing and at a time in which the supply chain faces unprecedented challenges,” said Thattai. “In joining forces with Turvo, we have a unique opportunity to alleviate the impact of those challenges for customers. Driver shortages and port congestion, for instance, are addressable by decreasing the number of trucks or containers required to deliver a product from farm to fork. Turvo’s platform matches customers to truck, rail, or container assets that would otherwise be underutilized.”
To read more about the acquisition, click here.
As always, keep checking Deli Market News for the latest acquisitions and industry insights.