The acquisition makes Lineage the largest refrigerated warehousing and logistics provider in North America, and the world.
Lineage says its customers will now be able to benefit from the complementary capabilities of two of the industry’s most innovative companies. Financial terms of the transaction were not disclosed.
Following the closing, the combined company will feature over 1.3 billion cubic feet of temperature-controlled capacity across more than 200 facilities, with a footprint that spans North America, Europe and Asia.
After the merge, Lineage will have 17 automated facilities with over 800,000 automated pallet positions, including the two largest automated facilities in the world, and an accelerating strategy to bring automated solutions to meet customer demands and complexity.
“We are thrilled to welcome Preferred into the Lineage family of companies,” said Greg Lehmkuhl, Lineage president and chief executive officer. “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.