San Francisco, CA, US: Lineage Logistics, a warehousing and logistics company supported by Bay Grove Capital, has acquired Castle & Cooke Cold Storage, a third-party warehousing logistics company headquartered in Colton, CA, from Castle & Cooke.
Lineage increases its capacity to 7-million cubic metres with the acquisition of Castle & Cook making it the third largest refrigerated warehouse company in North America, based on data from the International Association of Refrigerated Warehouses. Financial terms of the transaction were not disclosed.
“Lineage combines a deep heritage of customer-centric and entrepreneurial values with significant financial resources provided by committed, long-term investors,” said Kevin Marchetti, managing director of Bay Grove. “This is a transformative deal that will double Lineage’s size, expand its capabilities and strengthen its customer-first culture. The acquisition firmly establishes Lineage as a leading logistics partner for customers nationwide.”
Castle & Cooke, previously owned by investor David Murdock and CEO Bill Hendricksen, operates 24 warehouse in California, Illinois, Maryland, Missouri, Georgia and Texas. The company provides cold and dry storage for a wide range of customers, including food and non-food producers, distributors and retailers and also provides transport.
Castle & Cooke chief executive Bill Hendricksen and president Paul Hendricksen will become Lineage’s chief executive Bill Hendricksen and president respectively.
Lineage Logistics Lineage Logistics was founded through the combination of six, temperature-controlled warehousing companies,
Bay Grove Capital Bay Grove Capital is a principal investment firm partnering with management teams to invest in growing businesses.