Lineage Logistics announces the acquisition of Spanish transport and cold storage operator Grupo Fuentes

NOVI, Michigan and AMSTERDAM–(BUSINESS WIRE)–Lineage Logistics, LLC (“Lineage” or the “Company”), a leading global provider of temperature-controlled industrial REIT and logistics solutions, today announced its intention to acquire Grupo Fuentes, a major operator of transport and cold storage facilities, headquartered in Murcia, Spain.

Grupo Fuentes operates a fleet of more than 500 vehicles and trailers, 6 logistics centers, cold storage and services supporting these facilities. It is also a founding member of Reefer Terminal, a strategic partnership to create an intermodal transport platform combining road and rail transport services in cold storage.

Rafael Fuentes, CEO of Grupo Fuentes, said: “My father started the business with a single truck over 30 years ago and the company has grown into one of Spain’s leading providers of transport and logistics services. . I am proud to look forward to the company becoming part of Lineage, as part of a global group at the forefront of industry innovation. The Fuentes family is expected to continue to lead Lineage’s business in Spain and will play a leading role in Lineage in Spain and the expansion of Lineage’s road transport network across Europe, and will oversee the integration of Grupo Fuentes in the Lineage family.

Harld Peters, President of Europe at Lineage, said: “Spain is a major food producer in Europe, and our increased presence in this country through the acquisition of Grupo Fuentes will allow us to manage a strategic connection between the Southern Europe and Northern Europe, where Lineage has a strong existing footprint. Grupo Fuentes will accelerate our continued expansion into transportation services, enabling us to provide end-to-end solutions to our customers across the Lineage network and in Europe as a whole.

Grupo Fuentes has its headquarters in Murcia and offices in Galicia, Madrid, Navarre, Valencia and the Netherlands. The company counts among its customers some of the main Spanish food and retail companies, with a significant part of the activity providing cold storage, transport and international transport services covering Belgium, France , Germany, Italy, the Netherlands and Portugal. and the UK

Grupo Fuentes has a cold store in Murcia with 60,000 pallet positions and plans to expand the site with an additional 40,000 pallet positions.

Lineage first entered Spain in May 2021, with the acquisition of Frigoríficos de Navarra warehouses in Navarre and Asturias. The acquisition of Grupo Fuentes and its transport fleet complements Lineage’s recent expansion of its European warehouses.

Deloitte is acting as financial advisor and legal counsel to the Fuentes family. Rabobank and Seven Lakes Partners are acting as financial advisors to Lineage and Latham & Watkins and Garrigues are acting as legal advisors.

About Lineage Logistics

Lineage Logistics is one of the world’s leading providers of temperature-controlled industrial REIT and logistics solutions. It has a global network of more than 400 strategically located facilities totaling more than 2 billion cubic feet of capacity that spans 20 countries in North America, Europe and Asia-Pacific. Lineage has industry-leading expertise in end-to-end logistics solutions, an unrivaled real estate network, and develops and deploys innovative technology. This helps increase distribution efficiency, advance sustainability, minimize supply chain waste and, most importantly, as a visionary partner of Feeding America, feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was ranked #3 on the 2022 CNBC Disruptor 50 list, named Deloitte US Best Managed Company in 2022, the #1 Data Science Company and #23 in the rankings general, on the company’s 2019 Fast List of the World’s Most Innovative Companies, in addition to being included in Fortune’s Change the World list in 2020. (www.lineagelogistics.com)