Lineage Logistics has signed a definitive agreement to acquire Ontario Refrigerated Services (ORS), a family-operated cold storage company offering temperature-controlled space in the Greater Toronto area. This marks Novi, Michigan, USA-headquartered Lineage’s entrance into the Canadian market.
Established in 2003 by Founder and President Roger Kropf and Controller and CGA Accountant Kate Kropf, ORS is has long-tenured client relationships and wholly-owned facilities strategically placed near customers’ production plants. The acquisition includes four modern facilities within 150 kilometers (about 93 miles) of Toronto that collectively offer 510,000 square feet (16.2 MM cubic feet) and 100,000 pallet positions of refrigerated capacity.
“We are thrilled to expand our global network into the Canadian market and can think of no better group with whom to begin this journey than the ORS team,” said Greg Lehmkuhl, president and chief executive officer of Lineage, which is the world’s largest provider of temperature-controlled logistics solutions.
He added: “The Ontario market is a cornerstone of the Canadian economy, making this the natural place for Lineage to launch our broader Canadian market platform. Further, ORS’s entrepreneurial spirit and local roots are a great fit with the Lineage culture.”
Lineage has partnered on the deal with CapCold Group Inc., an entity formed by Robert and Patrick Molyneux to pursue the acquisition of North American cold storage companies, with in-depth experience in major Canadian market centers. They will join the Lineage team as advisors as the company works to strengthen its Canadian platform.
Following the expected close of the transaction within the next several weeks, terms of which were not disclosed, the combined company will feature a global footprint that spans over 1.9 billion cubic feet of temperature-controlled capacity across over 300 facilities in 13 countries spanning North America, Europe, Asia, Australia, New Zealand and South America.