Lineage Logistics, LLC (“Lineage” or the “Company”), a leading global temperature-controlled industrial REIT and logistics solutions provider, announced its intention to acquire the cold storage division of Claus Sørensen Group, a renowned cold storage operator in Denmark.
Founded in 1926, Claus Sørensen is headquartered in Esbjerg, Denmark and operates nine cold storage facilities that are strategically located in relation to major fishing ports and food production facilities. The total capacity of Claus Sørensen’s facility network exceeds 800,000 cubic metres, with a freezing capacity of approximately 1,800 tonnes per day.
“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 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.”
“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 & 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.”
The acquisition comes on the heels of Lineage’s recently announced agreement to acquire Kloosterboer Group and contributes to the strategic expansion of Lineage’s facility network across Europe. 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.
Deloitte Corporate Finance is acting as financial advisor and Gorrissen Federspiel is acting as legal advisor to Claus Sørensen Group. Rabobank is acting as Lineage’s financial advisor and Bech Bruun is serving as its legal counsel.