MI-LINEAGE-LOGISTICS

Lineage Logistics, LLC (“Lineage” or the “Company”), a leading global temperature-controlled industrial REIT and logistics solutions provider, today announced its intention to acquire the cold storage division of Claus Sørensen Group, a renowned cold storage operator in Denmark.

Founded in 1926, Claus Sørensen is headquartered in Esbjerg, Denmark and operates nine cold storage facilities that are strategically located in relation to major fishing ports and food production facilities. The total capacity of Claus Sørensen’s facility network exceeds 800,000 cubic metres, with a freezing capacity of approximately 1,800 tonnes per day.

“At Lineage, we actively look for opportunities to strengthen our leading facility network and deliver strategic value to our customers by connecting more dots within their supply chains,” said Greg Lehmkuhl, President and CEO of Lineage. “Our acquisition of Claus Sørensen will amplify our reach in the Nordic region and will add a highly capable team to our European organization.”

“Lineage’s dedication to both innovation and service perfectly aligns with our longstanding commitment to being a preferred partner for our customers,” said Jesper Toft Mathiasen at Claus Sørensen. “We are excited to join a company that shares our same values and to join forces with Lineage’s team in the region to innovate for our customers and to help them grow their businesses.”

“Like many companies that have joined Lineage, Claus Sørensen is a family owned and operated company with a long legacy and strong entrepreneurial culture,” said Mike McClendon, President of International Operations & EVP of Network Optimization at Lineage. “We are very excited to partner with Jesper and the team at Claus Sørensen cold storage and I am confident in our combined teams’ ability to succeed on behalf of our customers.”

The acquisition comes on the heels of Lineage’s recently announced agreement to acquire Kloosterboer Group and contributes to the strategic expansion of Lineage’s facility network across Europe. Lineage’s global footprint currently spans over 2.1 billion cubic feet of temperature-controlled capacity in 15 countries across North America, Europe, Asia-Pacific, and South America.

Deloitte Corporate Finance is acting as financial advisor and Gorrissen Federspiel is acting as legal advisor to Claus Sørensen Group. Rabobank is acting as Lineage’s financial advisor and Bech Bruun is serving as its legal counsel.

About Lineage Logistics

Lineage Logistics is one of the leading temperature-controlled industrial REIT and logistics solutions providers worldwide. It has a global network of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com )

About Claus Sørensen

Claus Sørensen was established in 1926 and operates cold and freezer storage facilities, all strategically placed in relation to the production of food products and main fishing ports across Denmark. Focused strongly on the customer, Claus Sørensen aims to be the food industry's preferred partner requires advanced facilities, logistics expertise and the best IT systems in the industry. As a link in the food and beverage supply chain, Claus Sørensen works to optimise processes on behalf of the customer, achieve maximum energy efficiency and protect the environment. Headquartered in Esbjerg, Claus Sørensen is a well-consolidated, foundation-owned business with 220 employees that are strongly driven by our values: quality, efficiency, credibility, responsibility and development. (https://www.csgruppen.dk/ )

View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005793/en/

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