Lineage Logistics buys Yearsley in Europe's refrigerated warehousing market
MICHIGAN-HEADQUARTERED Lineage Logistics Holdings Inc has acquired Yearsley Group Ltd, a temperature-controlled logistics service provider and frozen food distributor in the United Kingdom, for an undisclosed purchase price.
The deal expands Lineage's footprint in Europe, where it already has facilities not only in the UK but in Belgium and the Netherlands as well.
Lineage is ranked as the second-largest refrigerated warehousing and logistics company globally by the International Association of Refrigerated Warehouses (IARW), whose data shows that the company has 767 million cubic feet of reefer space, second only to Americold Logistics with 934 million cubic feet of space, reported American Shipper.
Yearsley claims to be "the UK's largest logistics service provider in the frozen food sector, as well as offering ambient, chilled and freight forwarding solutions." It is headquartered in Heywood, outside of Manchester, England.
Lineage Logistics CEO Greg Lehmkuhl said: "Bringing Yearsley into the Lineage family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities.
"We see tremendous alignment between our two organisations, not only in our capabilities to diligently serve customers' extended supply chains but also in our dedication to supporting a values-based culture that empowers our growing international workforce."
Yearsley, which has been in business 66 years, has a network of 12 refrigerated warehouses in the UK and fleet of 300 vehicles. Included in the transaction is Yearsley Food, a UK frozen food supplier that supports customers across retail, food service, food manufacturing and export channels.