Lineage Logistics Enters the Polish Cold Storage Market With the Acquisition of Pago Sp. z o.o.
Lineage Logistics Holdings, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has acquired Pago Sp. z o.o. (“Pago”), a leading warehousing, distribution and transport logistics provider in Poland from its current ownership, including Tönnies International Holding GmbH (“Tönnies”). The strategic acquisition marks the Company’s entrance into the Polish market and adds six exceptional assets to Lineage’s global network of temperature-controlled facilities. Lineage was founded and continues to be managed by Bay Grove Capital, LLC (“Bay Grove”), a principal investment firm dedicated to partnering with strong management teams to build long-term platform investments. Financial terms of the transactions were not disclosed.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201201005951/en/
The acquisition of Pago Sp. z o.o. marks Lineage's entrance into the Polish market and adds six exceptional assets to Lineage’s global network of temperature-controlled facilities. (Photo: Business Wire).
“We are excited to enter Poland by acquiring Pago, which is known for its dedicated team members, the most modern network in its market and an entrepreneurial culture with roots as a family business – just like so many of the organizations we’ve embraced as part of our ‘One Lineage’ family,” said Mike McClendon, Lineage’s President of International Operations & EVP of Network Optimization. “The acquisition also expands the Lineage footprint to an increasingly important market for our customers and a region where we see opportunities to add capacity and implement new, innovative customer solutions.”
The combined Company will feature over 1.9 billion cubic feet of temperature-controlled capacity across more than 330 facilities in 15 countries, with a global footprint that spans North America, South America, Europe, Asia, Australia and New Zealand.
“We are very pleased to partner with the current Pago leadership, who have helmed the organization since 2006 based on an ethos of reliability, quality and commitment to the customer while growing it to become the largest and most modern cold storage company in Poland,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner of Bay Grove. “Pago leaders Adam, Patryk and Maciej Gościniak will continue with the business and help Lineage drive further growth in this critical and strategic region. We would like to thank Tönnies for their efforts in support of this transaction.”
“We couldn’t be more excited to be joining the Lineage family,” said Patryk Gościniak, Vice Chairman of Pago. “Lineage is known worldwide for its unrivaled international facility network, robust suite of supply chain solutions as well as its extensive technology and automation resources. We are honored they have recognized our talent and expertise in the Polish market and will now lead the Pago team into a promising new chapter as part of Lineage. On behalf of the leadership, I’d like to thank our entire team for their hard work in building Pago to what it is today. It is because of these efforts and commitment to our business that we have reached this milestone.”
Rabobank acted as financial advisor to Lineage. Latham & Watkins acted as legal advisor to Lineage.
PWC Legal acted as legal advisor to Tönnies.
About Lineage Logistics
Lineage is the world’s largest and most innovative provider of temperature-controlled logistics solutions. Lineage’s expertise in end-to-end logistical solutions, its unrivaled real estate network, and its use of technology combine to promote food safety, increase distribution efficiency, advance sustainability, lessen environmental impact, and minimize supply chain waste. As a result, Lineage helps customers ranging from Fortune 500 companies to small family-owned businesses increase the efficiency and protect the integrity of their temperature-controlled supply chain. Lineage has grown its cubic feet by 60% annually since 2008 to 1.9 billion cubic feet, making it the largest global temperature-controlled industrial REIT. In recognition of the company’s leading innovations, Lineage was recognized as the No 1. Data Science company on Fast Company’s Annual list of The World’s Most Innovative Companies in 2019, in addition to ranking 23rd overall in an evaluation of thousands of companies worldwide. (www.lineagelogistics.com)
About Pago Sp. z o.o.
Pago is the most recognizable provider of frozen food logistics in Poland. It successfully carries out projects combining warehouse and distribution logistics, meeting the needs of the most demanding customers, including the largest Polish manufacturers of frozen food, international concerns and retail chains who expect the highest standards of service, ethics and safety. Pago runs a network of modern frozen food logistics centers, developed in accordance with top construction and equipment standards, and its total storage capacity exceeds 190 000 pallet positions. One of its facilities is located in the Baltic Sea Port of Gdańsk, directly in the Deepwater Container Terminal, making Pago an important link in the supply chain in terms of global frozen food trade. (www.pago.net.pl)
About Bay Grove
Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Esri Launches ArcGIS Platform27.1.2021 17:00:00 CET | Press release
Esri, the global leader in location intelligence, today announced the launch of ArcGIS Platform, a geospatial platform as a service (PaaS) for developers that need to integrate location capabilities into their apps, business systems, and products. ArcGIS Platform gives developers direct access to Esri's powerful location services using the APIs and web frameworks of their choice. "ArcGIS Platform lets users build their own products or integrate Esri services into existing software," said Jack Dangermond, Esri founder and president. "This PaaS makes it easier for software developers to access geospatial technology." "With the release of ArcGIS Platform, developers now have access to professional-grade content and capabilities they can readily plug into their apps, allowing them to stay on budget while delivering enormous value by reducing time to market," said David Cardella, Esri product manager for developer technologies. Scaling with developers and their apps, ArcGIS Platform lets cu
ONWARD Announces Publication in Nature Demonstrating Blood Pressure Stabilization in People with Spinal Cord Injury27.1.2021 17:00:00 CET | Press release
ONWARD today announced the publication of a study in the journal, Nature, which found targeted electrical spinal cord stimulation stabilizes blood pressure in people with spinal cord injury (SCI). “A serious and underrecognized result of spinal cord injury is unstable blood pressure, which can have devastating consequences that reduce quality of life and are life threatening. Unfortunately, there are no effective therapies for unstable blood pressure after spinal cord injury,” said Dr. Aaron Phillips, PhD, a member of the Hotchkiss Brain Institute and Libin Cardiovascular Institute at the Cumming School of Medicine (CSM) and co-lead author of the study. “We created the first platform to understand the mechanisms underlying blood pressure instability after spinal cord injury, which allowed us to develop a new cutting-edge solution.” Loss of movement and sensation are the most commonly known impacts of spinal cord injury, but SCI is also frequently accompanied by other effects that chall
Xsolla Establishes New Games Industry Collective, Xsolla Diamond Club27.1.2021 16:32:00 CET | Press release
Xsolla, the game commerce company powered by Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, is now accepting new members to the Xsolla Diamond Club, a professional community of like-minded video game developers and publishers looking to build successful businesses who can connect, learn proven methods and solve shared challenges. Membership to the collective is open to Xsolla clients and potential new partners. Diamond Club members can collaboratively tackle problems around funding, launching, distribution and monetization. To welcome new members, Xsolla is providing free tickets to upcoming sponsored virtual trade shows in 2021. Prospective members can apply to select the event that they would like to attend. After attending their first show, members will also have the benefit of purchasing discounted tickets to 40+ other future events in 2021, including: Taipei Game Show – January 28-31 Pocket Gamer –
C3 AI Reinvents No Code AI with the Introduction of C3 AI Ex Machina27.1.2021 15:26:00 CET | Press release
C3 AI (NYSE: AI), the world’s leading provider of enterprise AI software, today announced the general availability of C3 AI® Ex Machina, a next-generation predictive analytics application that empowers anyone to develop, scale, and produce AI-based insights without writing code. Analysts, operators, and subject matter experts across all industries and business functions are increasingly required to develop predictive and prescriptive insights compiled from vast and disparate datasets. While there are many no-code tools available that lower the barrier for users to build ML models and perform data analysis, none provide end-to-end capabilities that enable them to capture and process the volume and variety of data required, automatically generate interpretable AI models, and productize, deploy, and scale the results across their company. Current predictive analytics tools are typically complicated to use and limit the ability of their insights to drive real business outcomes. C3 AI Ex Ma
Philip Morris International Named to the 2021 Bloomberg Gender-Equality Index, Recognizing Company’s Commitment to Advancing Gender Equity27.1.2021 14:18:00 CET | Press release
Philip Morris International Inc. (PMI) (NYSE: PM) has today been added to the 2021 Bloomberg Gender-Equality Index (GEI) for its transparency in gender reporting and advancing women’s equity. This recognition underscores PMI’s work to progress gender equity in the workplace and to ensure equal opportunities for all employees. “I am delighted that PMI has been named to the 2021 Bloomberg Gender-Equality Index for our focus on advancing gender equity,” said Silke Muenster, Chief Diversity Officer at PMI. “We count on inclusion to better our organization and believe everyone has an important role to play in making PMI a more inclusive and diverse employer. From striving to improve our gender balance at all levels to maintaining our global leadership on equal pay, our efforts are not only an essential part of being a responsible corporate citizen and contributing to our shared global sustainability goals but also crucial to our progress toward delivering a smoke-free future.” The Bloomberg
Coty Announces Consolidation of Fragrance Manufacturing Operations with Intended Closure of Site in Cologne, Germany27.1.2021 14:10:00 CET | Press release
Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies today announced the planned closure of its manufacturing site in Cologne, Germany. The move comes as Coty consolidates global fragrance operations. The Cologne site currently employs approximately 300 people and produces a range of fragrance products. The closure, which will occur in stages, will be preceded by the completion of all appropriate legal processes and is expected to be completed by Summer 2022. Richard Jones, Chief Global Supply Chain and R&D Officer at Coty, said: “We have taken this difficult decision to consolidate our fragrance manufacturing capacity in order to increase the efficiency of our operations. Coty is the world’s leader in fragrance, but our network has been operating over-capacity in recent years and the considerable impact of COVID-19 has accelerated the need to take action. This move will address the imbalance to increase our competitiveness and ensure we fully leverage our scale and rema
UnitedLex Integrates Microsoft Cloud to Globally Scale Digital Transformation of Legal Services27.1.2021 14:00:00 CET | Press release
UnitedLex, a leading technology and legal services company, has integrated Microsoft Cloud services to globally scale UnitedLex Vantage, a holistic, turnkey technology platform built to revolutionize the customer experience and transform the legal function into a first-class digital citizen. UnitedLex has integrated Microsoft solutions into its software portfolio since 2008 and has deep experience working closely with Microsoft. UnitedLex Vantage delivers a flexible, secure, and scalable platform, powering all enterprise legal workflows. Vantage comes with a vastly reduced implementation time (a matter of days versus months), a 20 percent increase in work efficiency, significant cost savings across overall legal and IT spend, and most crucially: new revenue opportunities for the business. UnitedLex Chief Technology Officer Sean Jennings said, “We are pleased to deepen our longstanding relationship with Microsoft. The Vantage platform represents a substantial investment for UnitedLex to