Lineage Logistics Acquires Stanford Refrigerated Warehouses
Colton, CA (GLOBE NEWSWIRE) -- Lineage Logistics ("Lineage"), a warehousing and logistics company sponsored by Bay Grove Capital LLC ("Bay Grove"), today announced that it has acquired Stanford Refrigerated Warehouses ("Stanford Refrigerated" or the "Company"), a third-party warehousing logistics company headquartered in Macon, GA. With the acquisition of Stanford Refrigerated, Lineage enhances its presence and capacity in the Southeast region to support its customers. Comprising 12 million square feet and 240 million cubic feet of capacity, Lineage is the third largest refrigerated warehouse company in North America, based on data from the International Association of Refrigerated Warehouses. Financial terms of the transaction were not disclosed.
Stanford Refrigerated, previously owned by CEO Brent Stanford and his family, provides frozen and refrigerated storage, blast freezing, import / export services, container trans-loading, and domestic distribution services for food-related companies. With over 30 years of experience, Brent Stanford has partnered with his customers to serve central Georgia, the Atlanta metro area, the Port of Savannah, and the Southeastern states.
"Brent Stanford's dedication to his customers and emphasis on service and quality epitomizes Lineage's core values," said Kevin Marchetti, Managing Director of Bay Grove. "We believe Stanford Refrigerated is an excellent fit for Lineage culturally and strategically."
After the acquisition, Brent Stanford will help oversee Lineage's facilities in the Southeast region. "I have gotten to know the people of Lineage and Bay Grove over the past years and have been very impressed with the business they are building," said Brent Stanford. "I truly believe joining Lineage today will benefit our customers, employees, and community for the long-term."
"Brent Stanford brings to Lineage a wealth of industry experience and has proven to be a great cold storage operator," said Mike McClendon, East Coast President of Lineage. "We are pleased to welcome Brent and Stanford Refrigerated into the Lineage family," added Bill Hendricksen, CEO of Lineage.
About Lineage Logistics
Lineage Logistics was founded through the combination of premier, temperature-controlled warehousing companies, some of whose roots date back to the early 1900s. Today, all its companies are unified with a shared vision of being the leading national supply chain logistics company. Lineage is continually seeking ways to expand its platform for customers by adding new services and facilities. (www.lineagelogistics.com)
About Bay Grove Capital
Bay Grove Capital is a principal investment firm dedicated to partnering with strong management teams to invest in growing, cash-flow positive businesses. Bay Grove has deep experience in the warehousing and logistics industry and also seeks to make long-term investments in other attractive sectors. Bay Grove Capital is based in San Francisco. (www.baygrovecapital.com).
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SOURCE: Bay Grove Capital Group LLC