Novi, Michigan, USA-based Lineage Logistics Holdings has acquired Yearsley Group Limited, a leading temperature-controlled logistics service provider and frozen food distributor in the United Kingdom. Financial terms of the transaction were not disclosed.
“Yearsley has demonstrated a strong commitment to developing longstanding customer relationships, which is consistent with how we do business at Lineage. Bringing Yearsley into our family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities,” said Greg Lehmkuhl, president and chief executive officer of Lineage Logistics.
“Yearsley has demonstrated a strong commitment to developing longstanding customer relationships, which is consistent with how we do business at Lineage. Bringing Yearsley into our family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities,” said Greg Lehmkuhl, president and chief executive officer of Lineage Logistics.“Our acquisition by Lineage is a tremendous opportunity for Yearsley customers and employees alike,” said Jonathan Baker, chief executive of the Heywood, Greater Manchester, England-headquartered Yearsley Group. “Lineage’s commitment to innovation and service is unmatched, and we are excited to strengthen our ability to partner and grow with customers on a global scale unlike ever before.”
“We see tremendous alignment between our two organizations – 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,” added Lehmkuhl. “Together, we are unquestionably the highest-caliber team in the cold storage space, and we are best positioned to creatively solve our customers’ most complex logistics needs.”In its 66-year history, Yearsley has grown to become a major temperature-controlled logistics providers in Britain, operating a network of 12 cold stores nationwide. With over 300 vehicles, the company complements its cold storage solutions with high-impact, value-added transportation services, following a similar model to Lineage’s US-based operations.
Also included in the transaction is Yearsley Food, a national frozen food supplier that supports customers across retail, foodservice, and industrial food manufacturing and export channels.
Since its founding in 2008, Lineage has evolved through both acquisitions and organic growth. The company’s purchase of Yearsley builds on the success of its first international acquisition in 2017 in which Lineage acquired Partner Logistics, a leading automated cold storage provider in Europe.
Since its founding in 2008, Lineage has evolved through both acquisitions and organic growth. The company’s purchase of Yearsley builds on the success of its first international acquisition in 2017 in which Lineage acquired Partner Logistics, a leading automated cold storage provider in Europe.
Rabobank acted as the lead financial adviser and Houlihan Lokey served as financial adviser to Lineage in the transaction. KPMG Corporate Finance acted as financial adviser to theYearsley Group.
