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Lineage has completed the acquisition of Grupo Fuentes, one of the leading Spanish providers of maritime logistics and bloodless storage, based in Murcia and with services throughout the country
The expansion in Spain will be Lineage’s commitment to one of the leading new product markets in Europe.
Grupo Fuentes is a leading provider of transportation services, and the acquisition will expand Lineage’s footprint for blood-free retail point-of-sale distribution across Europe.
NOVI, Mich. & AMSTERDAM, September 1, 2022–(BUSINESS WIRE)–Lineage Logistics, LLC (“Lineage” or the “Company”), a leading global provider of temperature-controlled trade logistics and REIT solutions, today announced that it has completed the acquisition of Grupo Fuentes, a leading operator of bloodless garage transportation and facilities, headquartered in Murcia, Spain. The transaction was first announced on August 2, 2022.
Grupo Fuentes operates a fleet of more than 500 cars and trailers, six logistics centers, a bloodless workshop and value-added support to those facilities. He is also a founding member of Reefer Terminal, a strategic partnership to create an intermodal shipping platform that combines road and rail transportation in blood-free storage.
With the closing of the transaction, Grupo Fuentes and its 850 employees are part of Lineage. Fuentes’ circle of family members will also hold leadership positions within Lineage and will continue to lead the strategic direction of Lineage’s operations in Europe. Rafael Fuentes, CEO of Grupo Fuentes, will concentrate on enhancing lineage’s shipping offer, where Grupo Fuentes already has an important presence abroad. Fuentes’ family circle will reinvest a portion of the proceeds from the transaction in Lineage, as a sign of their commitment to the company.
“I’m very happy that we were able to temporarily move from pronouncing the agreement to finalizing it,” Fuentes said. “This allows us to begin the integration process between Grupo Fuentes and Lineage and realize the benefits that the agreement will bring to our customers, workers and the logistics sector in Spain and Europe. Joining Lineage will allow us to achieve bolder ambitions than we could have as an independent company. “
Harld Peters, President for Europe at Lineage, said: “Spain is one of the leading food manufacturers in Europe, and our increased presence through the acquisition of Grupo Fuentes is a key progression in our plans to bring the most productive bloodshed garage corporations of their kind. One Lineage’s circle of family this acquisition will unite the end-to-end supply chain for consumers in Southern Europe and beyond, with services near food production centers and a large transportation fleet that will allow us to offer visitors answers that make the entire price chain bigger. “
Grupo Fuentes has its headquarters in Murcia and offices in Galicia, Madrid, Navarra, Valencia and the Netherlands. The corporate has among its consumers some of the main Spanish food and retail companies, a significant component of the activity that offers bloodless storage, maritime and foreign transport. shipments covering Belgium, France, Germany, Italy, the Netherlands, Portugal and the United Kingdom. Grupo Fuentes has a bloodless store in Murcia with 60,000 pallet positions and plans to expand the site with another 40,000 pallet positions.
Lineage first entered Spain in May 2021, with the acquisition of warehouses in Navarra and Asturias from Frigoríficos de Navarra and Frioastur. The acquisition of Grupo Fuentes and its shipping fleet complements Lineage’s expansion of its European warehouses.
Deloitte acted as monetary and legal counsel to the Fuentes family. Rabobank and Seven Lakes Partners acted as monetary advisors to Lineage and Latham
About Lineage Logistics
Lineage Logistics is one of the world’s leading providers of temperature-controlled trade logistics and REIT solutions. It has a global network of more than 400 strategically located services totaling more than 2 billion cubic feet of capacity spanning 20 countries in North America, Europe and Asia. -Pacific. Lineage has cutting-edge expertise in end-to-end logistics solutions, an unprecedented real estate network, and develops and implements state-of-the-art technology. and most importantly, as Feeding America’s visionary spouse, he feeds the world. In popularity of key company inventions and sustainability initiatives, Lineage ranked No. 3 on the 2022 CNBC Disruptor 50 list, named Deloitte US Best Managed Company in 2022, No. 1 corporate data science and 23 overall, on the 2019 Rapid List of the World’s Most Innovative Companies, in addition to being included in Fortune’s Change the World List in 2020. (www. lineagelogistics. com)
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Contacts
Media Contacts: Lineage Logistics Magnus Franklin 32471620575magnus. franklin@teneo. com