Not long after reporting Lineage Logistics’ latest acquisition of Kloosterboer Group, the cold storage company makes news on the wire again with another acquisition. The company recently announced it is building its global position with its intent to acquire the cold storage division of Denmark-based Claus Sørensen Group.
“At Lineage, we actively look for opportunities to strengthen our leading facility network and deliver strategic value to our customers by connecting more dots within their supply chains,” said Greg Lehmkuhl, President and CEO of Lineage. “Our acquisition of Claus Sørensen will amplify our reach in the Nordic region and will add a highly capable team to our European organization.”
Lineage’s global footprint currently spans over 2.1 billion cubic feet of temperature-controlled capacity in 15 countries across North America, Europe, Asia-Pacific, and South America. With this latest acquisition, Lineage will gain over 800,000 cubic meters (~28 million cubic feet).
“Like many companies that have joined Lineage, Claus Sørensen is a family-owned and operated company with a long legacy and strong entrepreneurial culture,” said Mike McClendon, President of International Operations and EVP of Network Optimization at Lineage. “We are very excited to partner with Jesper and the team at Claus Sørensen cold storage and I am confident in our combined teams’ ability to succeed on behalf of our customers.”
According to the release, Claus Sørensen was founded in 1926 and operates nine cold storage facilities that are strategically located in relation to major food production facilities.
The total capacity of Claus Sørensen’s facility network exceeds 800,000 cubic meters, with a freezing capacity of approximately 1,800 tonnes (~1,984 tons) per day.
“Lineage’s dedication to both innovation and service perfectly aligns with our longstanding commitment to being a preferred partner for our customers,” said Jesper Toft Mathiasen at Claus Sørensen. “We are excited to join a company that shares our same values and to join forces with Lineage’s team in the region to innovate for our customers and to help them grow their businesses.”
Deloitte Corporate Finance is acting as the financial advisor and Gorrissen Federspiel is acting as the legal advisor to Claus Sørensen Group, while Rabobank is acting as Lineage’s financial advisor and Bech Bruun is serving as its legal counsel.
As Lineage Logistics continues to grow globally, will we see the company gain traction here in the States? Keep reading Deli Market News as we report.
