Lineage Logistics, LLC has finalized the process to acquire Canadian cold chain provider, VersaCold Logistics Services. The acquisition was initially confirmed in early April of this year, a press release reported.
“Welcoming VersaCold into the One Lineage family extends our company’s reach in Canada and creates exciting opportunities to provide more efficient cross-border solutions for customers in North America and beyond,” president and CEO of Lineage Logistics, Greg Lehmkuhl, said in the release.
Known as a national leader in the cold chain industry, VersaCold manages 24 temperature-controlled facilities with a 114 million cubic feet capacity across nine provinces based in metropolitan markets, such as Toronto, Calgary, Vancouver, Edmonton and Montreal.
Wells Fargo Securities, LLC contributed to the deal as VersaCold’s financial advisor, while TorQuest and Stikeman Elliott LLP served as legal counsel. Lineage received financial advice from JP Morgan Chase and Scotiabank and legal counsel from Latham & Watkins and Bennett Jones.
The company also operates an asset-based inbound and outbound transportation business out of nine terminals.
“The combination of our complementary facility networks, our differentiated and fully integrated transportation offerings and our world-class teams creates an even more dynamic global organization – one that is committed to our purpose of transforming the food supply chain to eliminate waste and help feed the world,” Lehmkuhl said.