Lineage Logistics Acquires Kloosterboer Group; Mike McClendon Comments
NOVI, MI & ROTTERDAM, NETHERLANDS - Logistics solutions are one of the key behind-the-scenes players in the fresh produce industry that serve a major role in supply chain success. Furthering its reach and ability to serve the industry, Lineage Logistics has announced the acquisition of Kloosterboer Group, an independent integrated platform for temperature-controlled storage, logistics, and value-added service in Europe.
“Welcoming Kloosterboer into the Lineage family marks a monumental step toward achieving our vision to become the world’s most dynamic temperature-controlled logistics company with the capability to serve customers in different countries around the world,” said Mike McClendon, Lineage’s President of International Operations and EVP of Network Optimization. “Kloosterboer’s strong entrepreneurial culture and management team, combined with their state-of-the-art, strategically located facility network perfectly complement Lineage’s international footprint and innovative spirit, which will deliver incredible value to our combined customers.”
Kloosterboer currently consists of 11 facilities across the globe, including in the Netherlands, France, Germany, Canada, and South Africa. According to a press release, the operations total over 6.4 million cubic meters of capacity (approximately 68.8 million square feet) and 790,000 pallet positions, employing over 900 team members.
The Kloosterboer company is family-owned and has a legacy as a vegetable trading company dating back to 1925. As part of the acquisition, the Kloosterboer family will continue to be involved in the future of the company, becoming investors in Lineage and rolling part of their sale proceeds into lineage equity.
“Kloosterboer has long focused on providing innovative and sustainable solutions, and we see great alignment with Lineage’s commitment to both the customer and the environment,” said the Kloosterboer family members. “We have known the founders of Lineage since 2014 and are confident Lineage is the right partner to help continue to serve our customers’ end-to-end logistical needs and accelerate the growth of Kloosterboer’s best-in-class capabilities. We are excited for a bright future full of opportunities for our team.”
Already in line with Lineage’s purpose of transforming the food supply chain to eliminate waste and provide food for people across the world, Kloosterboer is recognized by Building Research Establishment Environmental Assessment Methodology (BREEAM) as a frontrunner in sustainable cold storage operations. The company’s network features almost 18,000 solar panels, four wind turbines that power operations like heavy lift equipment, and an annual CO2 reduction in consumption of over 4,000 households.
The transaction is subject to regulatory clearance and completion of the employee consultation process. Nielen Schuman acted as financial advisor to the Kloosterboer family, and De Brauw Blackstone Westbroek served as its legal counsel. Rabobank acted as Lineage’s financial advisor, and Latham & Watkins and Nauta Dutilh served as its legal counsel.
How will this acquisition help Lineage expand its global and national footprint? Stick with AndNowUKnow as we keep an ear to the newswire.