Lineage Logistics acquires Kloosterboer Group
Lineage Logistics LLC, a global temperature-controlled industrial REIT and logistics solutions providers, has reached an agreement to acquire Kloosterboer Group, an independent integrated provider of temperature-controlled storage, logistics and value-added services in Europe.
The transaction is subject to regulatory clearance and completion of the employee consultation process.
“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 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.”
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.