Lineage Logistics has reached an agreement to acquire the Rotterdam, Netherlands-headquartered Kloosterboer Group, a leading independent cold storage, logistics and value-added services provider in Europe. The transaction, terms of which were not disclosed, is subject to governmental regulatory clearance and completion of the employee consultation process.
The Kloosterboer network consists of 11 refrigerated facilities operating across the Netherlands, France, Germany, Canada and South Africa, totaling 6.4 million cubic meters of space with 790,000 pallet positions. In addition to warehousing, it specializes in stevedoring, forwarding, shipping, customs and logistics IT.
Currently employing more than 900 people, the family-owned company’s roots date back to 1925 when it started out as a vegetable trading enterprise. It has grown significantly over the past 96 years to become one of Europe’s top supply chain solutions providers.
The Kloosterboers will continue to be involved in the future of the company, as family members have opted to become investors in Lineage and roll a part of their sale proceeds into Lineage equity.
“Welcoming Kloosterboer into the Lineage organization marks a monumental step toward achieving our vision to become the world’s most dynamic temperature-controlled logistics company with the capability to serve customers in different countries around the globe,” said Mike McClendon, Lineage’s president of international operations and executive vice president of network optimization. “Kloosterboer’s strong entrepreneurial culture and management team, combined with its state-of-the-art, strategically located facility network perfectly complement Lineage’s international footprint and innovative spirit, which will deliver incredible value to our combined customers.”
In line with Novi, Michigan, USA-headquartered Lineage’s dedication to transforming the food supply chain to eliminate waste and more efficiently feed the world, Kloosterboer is recognized by BREEAM (Building Research Establishment Environmental Assessment Methodology) as a frontrunner in sustainable coldstore operations. Its network utilizes nearly 18,000 solar panels, four wind turbines that power operations such as heavy lift equipment, and an annual reduction of CO2 equaling the consumption of over 4,100 households.
“Kloosterboer has long focused on providing innovative and sustainable solutions, and we see great alignment with Lineage’s commitment to both the customer and the environment,” said a representative speaking on behalf of the Kloosterboer family members. “We have known the founders of Lineage since 2014 and are confident that the company is the right partner to help continue to serve our customers’ end-to-end logistical needs and accelerate the growth of Kloosterboer’s capabilities. We are excited for a bright future full of opportunities for our team.”
Nielen Schuman acted as financial advisor to the Kloosterboer family and De Brauw Blackstone Westbroek served as its legal counsel. Rabobank was Lineage’s financial advisor and Latham & Watkins and Nauta Dutilh served as its legal counsel.
Lineage Logistics is ranked as world’s largest public refrigerated warehousing company by the Global Cold Chain Logistics Association (GCCA). It has an international network of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 16 countries across North America, Europe and the Asia-Pacific region.