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Lineage Logistics acquires Canada’s VersaCold

Acquisition of cold chain business will quintuple Lineage’s Canadian network

Lineage's acquisition of VersaCold will dramatically expand its presence in Canada. Photo: (Jim Allen/FreightWaves)

Lineage Logistics LLC, a cold chain logistics real estate investment trust, said Wednesday that it has acquired Canadian cold chain warehouse and transport company VersaCold Logistics Services for an undisclosed sum.

The transaction, which is expected to close in the third quarter, will roughly quintuple Novi, Michigan-based Lineage’s presence in Canada. Currently, Lineage operates six temperature-controlled facilities in the country. Ontario-based VersaCold, by contrast, operates 24 facilities in nine provinces with 114 million cubic feet of capacity. 

In addition, VersaCold provides transport services out of nine terminals across Canada. It has been in business since 1941.

VersaCold is owned by investment firms TorQuest Partners, the Investment Management Corporation of Ontario, and OPTrust. 

Lineage operates 400 facilities in 19 countries spanning three continents.

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Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.