NOVI, MI - It was just last week that we reported on Lineage Logistics’ strategic acquisition of Kloosterboer Group. The logistics company is building out its prowess once again, as it has announced its intention 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.”
On the heels of Lineage’s agreement with Kloosterboer Group, the acquisition contributes to the strategic expansion of its facility network across Europe. The logistics provider’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.
Founded in 1926, Claus Sørensen 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 metres (~28 million cubic feet), with a freezing capacity of approximately 1,800 tonnes (~1,984 tons) per day, according to a press release.
“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 Executive Vice President 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.”
Deloitte Corporate Finance is acting as the financial advisor, and Gorrissen Federspiel is acting as the legal advisor to Claus Sørensen Group. Rabobank is acting as Lineage’s financial advisor, and Bech Bruun is serving as its legal counsel.
“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.”
Where else will Lineage build out its footprint? Keep reading ANUK to find out.
