Lineage Logistics to Acquire Preferred Freezer Services
Global leader in temperature-controlled logistics solutions, Lineage Logistics company, announced its latest acquisition of Preferred Freezer Services. The acquisition will support company efforts to raise the bar higher while expanding its company footprint and providing customers the highest level of technological advancements.
“We are thrilled to welcome Preferred into the Lineage family of companies,” said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. “Bringing their first-class management team, deep industry experience and network of strategically located facilities into our organization will enable us to provide best-in-class service offerings for customers worldwide. Lineage is now better positioned than ever to meet the needs – and exceed the expectations – of food customers on a truly global scale.”
Currently projected upon finalization are over 1.3 billion cubic feet of temperature-controlled capacity across over 200 facilities in addition to the 17 automated facilities with over 800,000 automated pallet positions.
“We have followed Preferred’s impressive growth and innovations under John’s leadership since launching Lineage and always knew that bringing these two companies together would reinforce our vision to be the most dynamic temperature-controlled company in the industry,” commented Kevin Marchetti, Co-Founder and Managing Partner of Bay Grove, the principal investment firm backing Lineage. “This transaction will equip Lineage with the global reach and innovation capabilities that will fuel the next chapter of the Company’s growth and we are excited to have them on board.”
“I’d like to thank John and the entire Preferred team for their incredible partnership,” said Peter Lamm, Managing Director of Fenway Partners, Preferred’s equity partner and owner. “Preferred has built a tremendous platform under the management team’s leadership and, on behalf of Fenway Partners, I am proud to have supported its sustained growth over the past decade. We wish both organizations great success as a combined company.”