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Lineage Broadens North America Reach with Acquisition of VersaCold

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Lineage Logistics has signed a definitive agreement to acquire VersaCold Logistics Services, a leading cold chain solution provider in Canada, from TorQuest Partners and its co-investment associates, The Investment Management Corporation of Ontario and OPTrust. Financial terms of the deal were not disclosed.

Founded in 1941 and headquartered in Vaughan, Ontario, VersaCold is a cold chain leader that runs 24 temperature-controlled facilities comprising 114 million cubic feet of storage and 361,000 pallet positions. Its network spans nine provinces and includes properties in Canada’s most populous metropolitan markets – including Toronto, Calgary, Vancouver, Edmonton and Montreal. The company also offers an integrated, asset-based inbound and outbound temperature-controlled transportation solution that operates out of nine terminals across the country and provides coast-to-coast service capabilities.

“The acquisition of VersaCold represents yet another milestone and an important broadening of our business in Canada,” said Greg Lehmkuhl, president and chief executive officer of Novi, Michigan, USA-headquartered Lineage Logistics. “In its 80-plus year history, VersaCold has built a stellar reputation by providing customers with differentiated and fully integrated warehousing and transportation solutions across Canada. We look forward to supporting capacity expansion plans at a number of warehouses across key Canadian markets.”

VersaCold President and CEO Mike Arcamone

Mike Arcamone, president and chief executive officer of VersaCold, commented: “Lineage has emerged as a world leader in creating innovative solutions to help reduce waste across the temperature-controlled supply chain. Combining our seasoned team and our complementary facility network with them will create an even more dynamic company capable of supporting the growing needs of our customers in Canada and around the globe.”

The acquisition is expected to be finalized during the third quarter of 2022 subject to customary closing conditions.