- Lineage Logistics announced recently that it raised $1.7 billion in equity from new and existing strategic partners. These are details.
Lineage Logistics, LLC — the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider — announced recently that it raised $1.7 billion in equity from new and existing strategic partners. The participating investors include BentallGreenOak, CenterSquare Investment Management, Cohen & Steers, D1 Capital Partners, Healthcare of Ontario Pension Plan (HOOPP), NYSTRS, OP Trust, Oxford Properties, QuadReal Property Group, Rabobank, StepStone, and others.
The new funding will strengthen Lineage’s balance sheet and will fuel Lineage’s investments in industry-leading technology, including automation and proprietary software tools that help to improve supply chain efficiencies. And it will also be used to fund Lineage’s growth through greenfield developments, facility expansions, and investments in clean energy initiatives.
The equity raise follows Lineage’s latest funding round of $1.9 billion, which was announced in March 2021. And the latest funding brings the total equity raised since January 2020 to $6 billion.
KEY QUOTES:
“This latest round of funding is further validation of our business strategy and will be used to double down on our commitment to offering innovative, end-to-end supply chain solutions for our customers worldwide. As we head into 2022, this new equity gives us even more confidence in our ability to drive future growth opportunities for our business, the industry, and the wider food supply chain.”
— Greg Lehmkuhl, President and CEO of Lineage
“While Lineage has already achieved significant growth since its founding in 2008, the company remains as committed as ever to its promise of preserving, protecting, and optimizing the distribution of food. Lineage’s continued growth and investments in technology and innovation would not be possible without our incredible investors. We are excited to have fresh capital from this latest funding to deploy in our business and create new solutions and capacity for our customers, particularly during this time of significant disruption in global supply chains.”
— Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage Logistics
