Lineage Logistics, LLC, a prominent industrial REITs and logistics solutions providers, today announced it has signed a definitive agreement to acquire VersaCold Logistics Services, a leading cold chain solution provider in Canada, from TorQuest and its co-investment partners, The Investment Management Corporation of Ontario and OPTrust. Financial terms of the transaction were not disclosed.
Founded in 1941 and headquartered in Vaughan, Ontario, VersaCold is a cold chain leader that runs 24 temperature-controlled facilities comprising 114 million cubic feet of storage and 361,000 pallet positions. Its strategically-positioned network spans nine provinces and includes properties in Canada’s most populous metropolitan markets—including Toronto, Calgary, Vancouver, Edmonton, and Montreal. VersaCold also offers an integrated, asset-based inbound and outbound temperature-controlled transportation solution that operates out of nine terminals across the country and provides coast-to-coast service capabilities.
“Our acquisition of VersaCold represents yet another milestone and an important broadening of our business in Canada,” said Greg Lehmkuhl, President and CEO of Lineage Logistics. “In its 80-plus year history, VersaCold has built a stellar reputation by providing customers with differentiated and fully integrated warehousing and transportation solutions across Canada. We are excited to bring them into the One Lineage family and work alongside the VersaCold leadership team to better serve customers across North America. We also look forward to supporting capacity expansion plans at a number of warehouses across key Canadian markets.”
"We look forward to embarking on this journey with Lineage Logistics,” said Mike Arcamone, President and CEO of VersaCold Logistics Services. “Lineage has emerged as a world leader in creating innovative solutions to help reduce waste across the temperature-controlled supply chain. Combining our seasoned team and our complementary facility network with Lineage will create an even more dynamic company capable of supporting the growing needs of our customers in Canada and around the globe.”
For more information:
Tel.: +1 949.247.5172
VersaCold Logistics Services
Tel.: +1 416.557.3948