Lineage Logistics acquires Emergent Cold, expanding global cold chain network

Lineage Logistics signed definitive agreements to acquire its competitor Emergent Cold, according to a company press release. Transaction details have yet to be disclosed, but The Wall Street Journal reported Lineage could be paying more than $900 million for Emergent. Lineage expects the deal to close in 2020, according to the press release. From the deal, Lineage gains a new distribution center in the Dallas-Fort Worth region and four port facilities in New Orleans, Houston and Charleston, South Carolina. It also gains temperature-controlled logistics facilities in Australia, New Zealand, and Sri Lanka. Once the deal is finalized, the firm will have "1.7 billion cubic feet of temperature-controlled capacity across 260 facilities in 10 countries," according to the release.