Lineage Logistics Announces Acquisition of Spanish Transport and Cold-Store Operator Grupo Fuentes
Lineage Logistics, LLC (“Lineage” or the “Company”), one of the world’s leading temperature-controlled industrial REIT and logistics solutions providers, today announced its intention to acquire Grupo Fuentes, a major operator of transport and cold storage facilities, headquartered in Murcia, Spain.
Grupo Fuentes operates a fleet of over 500 vehicles and trailers, 6 logistics centers, a cold storage warehouse, and services supporting those facilities. It is also a founding member of Reefer Terminal, a strategic partnership to create an intermodal transportation platform combining road and rail cold-storage transport services.
Grupo Fuentes is headquartered in Murcia, with offices in Galicia, Madrid, Navarra, Valencia, and the Netherlands. The company counts some of Spain’s major food and retail companies as customers, with a significant share of the business providing cold storage, transport, and international transport services covering Belgium, France, Germany, Italy, the Netherlands, Portugal and the UK.
Grupo Fuentes has a cold-storage warehouse in Murcia with 60,000 pallet positions and plans to expand the site with an additional 40,000 pallet positions.
Lineage first entered Spain in May 2021, with the acquisition of Frigoríficos de Navarra warehouses in Navarra and Asturias. The acquisition of Grupo Fuentes and its transport fleet is a complement to Lineage’s recent expansion of its European warehouse facilities.
Deloitte acts as financial advisor and legal counsel to the Fuentes family. Rabobank and Seven Lakes Partners act as Lineage’s financial advisors and Latham & Watkins and Garrigues serve as its legal counsels.
About Lineage Logistics
Lineage Logistics is one of the world’s leading temperature-controlled industrial REITs and logistics solutions providers. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 20 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was a 2022 U.S. Best Managed Company, No. 3 in the 2022 CNBC Disruptor 50 list, No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020.
Gebrüder Weiss Targets Climate Neutrality by 2030