LINEAGE TAKES OVER KLOOSTERBOER AS SHOPPING SPREE CONTINUES
Lineage Logistics, the US-based cold-storage company, has bought the Kloosterboer Group, a temperature-controlled food storage and transport company based in Holland.
Family-owned until the takeover, Kloosterboer, which employs 900 people, has 11 facilities in the Netherlands, France, Germany, Canada and South Africa with a total capacity of 6.4 million cubic metres.
In a statement released by Lineage Logistics, Mike McClendon, the US company’s President of International Operations and Executive Vice President of Network Optimisation, said the purchase represented “a monumental step” towards its aim of becoming “the world’s most dynamic temperature-controlled logistics company”.
“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,” he added.
Kloosterboer can trace its history back to a vegetable-trading company founded in 1925 and is described as “one of Europe’s best-known supply chain solutions companies”.
Lineage said that the Kloosterboer family would continue to be involved in the business as they had become investors in Lineage and rolled part of their sale proceeds into Lineage equity.
“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,” the Kloosterboer family said in Lineage’s statement.
Lineage Logistics, described as the world’s biggest temperature-controlled storage company, has more than 350 facilities in 16 countries in North America, Europe and Asia-Pacific with a total capacity of more than two billion cubic feet. Taken over by Bay Grove Capital in 2008, it is growing fast and last year alone reportedly made 39 acquisitions.