Lineage further expands its growing presence in Europe with the acquisition of Pago, Poland’s largest cold storage and logistics provider
Lineage Logistics Holdings, LLC, the world’s largest temperature-controlled industrial REIT and logistics solutions provider, today announced it has acquired Pago Sp. z o.o., a leading warehousing, distribution and transport logistics provider in Poland from its current ownership, including Tönnies International Holding GmbH.
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, a principle investment firm dedicated to partnering with strong management teams to build long-term platform investments. Financial terms of the transactions were not disclosed.
“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 ft3 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.”
For more information: lineagelogistics.com