Lineage Logistics ("Lineage"), a warehousing and logistics company sponsored by Bay Grove Capital LLC (“Bay Grove”), announced today that it has acquired the assets of Seattle Cold Storage (“SCS” or the “Company”) and its facilities located in the Port of Tacoma and Algona, WA. The acquisition increases Lineage’s footprint to over 13 million square feet and 290 million cubic feet, which represents the second largest refrigerated warehouse network globally based on data from the International Association of Refrigerated Warehouses. Financial terms of the transaction were not disclosed.
SCS is one of the Puget Sound’s largest public refrigerated warehousing (“PRW”) companies and provides a breadth of service offerings including temperature-controlled storage, import / export services, retail distribution, and transportation services. The Company’s warehouses comprise 420,000 square feet and 11 million cubic feet of freezer and chilled storage capacity in strategic locations in the Port of Tacoma and the Kent Valley.
“SCS has terrific employees and a strong reputation,” said Adam Forste, Managing Director of Bay Grove. “We plan to make long-term improvements to the facilities to enhance capacity and increase energy efficiency. We are looking forward to building our relationship with the Port of Tacoma and providing our employees with a rewarding and safe work environment.”
“We are thrilled to welcome SCS’s employees to the Lineage family and to contribute to the continued success of SCS’s customers,” said Bill Hendricksen, CEO of Lineage. “SCS complements our existing Seafreeze and CityIce operations in Seattle and enables us to provide our customers with unparalleled service and supply chain capabilities in the Puget Sound. Our Lineage Freight Management division has also expanded its market leading transportation / freight consolidation solutions to these new locations.”