The world’s largest provider of temperature-controlled logistics solutions, which is based locally, has expanded to Canada through an acquisition.
Novi’s Lineage Logistics announced it has signed a definitive agreement to acquire Ontario Refrigerated Services Inc., a family-operated cold storage company offering temperature-controlled space in the greater Toronto market. Terms of the deal were not disclosed.
Ontario Refrigerated has four facilities within 93 miles of Toronto that collectively offer 510,000 square feet and 100,000 pallet positions of refrigerated capacity.
“We are thrilled to expand our industry-leading, global network into the Canadian market and can think of no better group with whom to begin this journey than the ORS team,” says Greg Lehmkuhl, president and CEO of Lineage. “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. We’re excited to have this starting point to expand further in Canada.”
Lineage has partnered on the investment with CapCold Group Inc., an entity formed by Robert and Patrick Molyneux to pursue the acquisition of North American cold storage companies. The two will join the Lineage team as advisers.
Ontario Refrigerated was founded in 2003 by Roger Kropf, president, and Kate Kropf, controller and certified general accountant.
“Kate and I are pleased to congratulate Lineage on the acquisition of Ontario Refrigerated Services Inc.,” says Roger Kropf. “The support of our customers and team have contributed to our rapid growth and success for the past 17 years, and I believe Lineage and CapCold are the right partners to take ORS into the future.”
Following the close of the transaction, which is expected in the coming weeks, the combined company will have a global footprint of 1.9 billion cubic feet of temperature-controlled capacity across 300 facilities in 13 countries in North and South America, Europe, Asia, Australia, and New Zealand.
Written by Grace Turner for dBusiness magazine.