Lineage Logistics Announces Acquisition of Kloosterboer Group

~Kloosterboer Group is a leading and reputable independent platform in Europe for integrated temperature-controlled storage, logistics and value-added services~

~The transaction combines highly strategic and complementary European facility footprints and diversified logistics capabilities~

~Kloosterboer’s founding family will continue their involvement in the Company to support future growth of the business~

(BUSINESS WIRE)-- Lineage Logistics, LLC (“Lineage” or the “Company”), one of the world’s leading and most innovative temperature-controlled industrial REIT and logistics solutions providers, today announced it has reached an agreement to acquire Kloosterboer Group (“Kloosterboer”), a leading independent integrated platform for temperature-controlled storage, logistics and value-added services in Europe. The transaction is subject to regulatory clearance and completion of the employee consultation process.

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Kloosterboer consists of eleven facilities across the Netherlands, France, Germany, Canada and South Africa, totaling 6.4 million cubic meters of capacity and 790,000 pallet positions and employing over 900 team members. A family-owned company with a rich legacy as a vegetable trading company dating back to 1925, Kloosterboer has grown over generations to become one of Europe’s best-known supply chain solutions companies. The Kloosterboer family will continue to be involved in the future of the Company, choosing to become investors in Lineage and rolling a part of their sale proceeds into Lineage equity.

“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 & 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.”

In line with Lineage’s purpose of transforming the food supply chain to eliminate waste and help feed the world, Kloosterboer is recognized by BREEAM (Building Research Establishment Environmental Assessment Methodology) as a frontrunner in sustainable cold store operations. Kloosterboer’s network features nearly 18,000 solar panels, four wind turbines that power operations such as heavy lift equipment, and an annual reduction of CO2 equaling consumption of over 4,100 households.

“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.

About Lineage Logistics

Lineage Logistics is one of the leading temperature-controlled industrial REIT and logistics solutions provider worldwide. It has a global network of over 350 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 16 countries across North America, Europe and Asia-Pacific . 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 Kloosterboer

The Kloosterboer Group is a family-owned company with more than 95 years of experience in the handling of temperature-controlled food products, such as fish, meat, fruit, fruit juices and fruit concentrates, dairy and potato products. Kloosterboer develops and provides innovative and sustainable solutions in the supply chain for conditioned food products. Kloosterboer is committed to long-term relationships, strives to achieve cost savings for its customers and increase the level of service. The company is specialised in warehousing, stevedoring, forwarding, shipping, customs and logistics IT. With storage capacity in The Netherlands, France, Germany, Canada and South Africa, Kloosterboer is one of the leading companies in this sector. (www.kloosterboer.com)

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