Lineage Logistics Acquires Emergent Cold and Expands in Asia-Pacific
As the executive chairman of STG Holdings, LLC, Chris Jamroz leads North America’s largest independent network of container freight station facilities. Chris Jamroz also serves on the Board of Emergent Cold, which provides temperature-controlled storage platform solutions spanning markets such as Australia and Vietnam. As reported in The Wall Street Journal, Emergent Cold was recently acquired by Lineage Logistics Holding, LLC, the world’s largest refrigerated-storage business by space. With the transaction engineered through Elliott Management Corp., the hedge fund owner of Emergent Cold, the deal was part of a Lineage strategy of expansion into the Asia-Pacific region. Owned by Bay Grove Capital, Lineage has followed an acquisition-driven expansion course over the past decade and earlier in 2019 acquired its rival Preferred Freezer Services, LLC, for in excess of $1 billion. It currently services the needs of global clients such as General Mills, Tyson Foods, Walmart, and Sysco. The price for Emergent was more than $900 million and was reported to add capacity totaling 1.7 billion cubic feet. This increases Lineage’s total footprint by 8 percent and was described by the company CEO as providing leverage for strategically working with customers to locate manufacturing plants, warehouses, and distribution networks optimally.