In its second announced acquisition in as many weeks, Lineage Logistics has signed a definitive agreement to buy Henningsen Cold Storage Co. Financial terms of the deal, which is expected to close within the next month or so, were not disclosed.
The purchase will add to the Novi, Michigan-headquartered company’s expansive network of refrigerated warehouses in the United States and bolster its presence in the Pacific Northwest and elsewhere with the addition of 14 facilities in Oregon, Washington, Idaho, Pennsylvania, North Dakota and Oklahoma.
“We are honored to welcome the Henningsen team to the Lineage family and to serve our combined customer bases across additional points in their food supply chains,” said Greg Lehmkuhl, president and chief executive officer of Lineage.
Following the deal’s closing and pending finalization of the acquisition of a New York-based foodservice distribution business announced last week, the company will have over 1.9 billion cubic feet of temperature-controlled warehouse capacity across 311 facilities in 11 countries. Ranked as the largest operator of public refrigerated cold storage space in the world, its global footprint spans North America, Europe, Asia, Australia and New Zealand.
Henningsen Cold Storage Co., which was founded in 1923 by Waldemar F. Henningsen, Sr., originally operated under the name Northwestern Ice & Cold Storage Inc., and stands today as a fifth-generation family business with a legacy of reliability and long-standing relationships with customers.
“We have known the Henningsen family since our earliest days in the cold chain industry and have deep respect for the business, culture and reputation they have built over generations,” said Kevin Marchetti, co-founder of Lineage Logistics and managing director of its San Francisco-headquartered owner, Bay Grove. “When we founded Lineage a little over 11 years ago, we looked to emulate companies like Henningsen that built their company with a long-term mindset. With this transaction, we will bring together two companies with that type of approach and make them both even stronger together.”
Paul Henningsen, president of Henningsen Cold Storage Co., commented: “On behalf of the entire Henningsen family, we are thrilled to be joining Lineage. We chose Lineage because we believe it will be the best way to strengthen our partnerships with customers by providing access to an unrivaled international facility network, extensive technology and automation resources as well as a robust suite of supply chain solutions.”