Lineage Acquires MTC Logistics, Expanding Access to Ports on U.S. East and Gulf Coasts
March 09, 2022
Acquisition adds four cold storage facilities along the U.S. East and Gulf Coasts, including nearly 38M cubic feet and over 113,000 pallet positions
NOVI, MI and BALTIMORE, MD – March 9, 2022 – Lineage, LLC (or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced that it has acquired MTC Logistics (“MTC”), a leading cold-chain provider with four strategic locations on or near the ports of Baltimore, MD, Wilmington, DE and Mobile, AL. Financial terms of the transactions were not disclosed.
Through the acquisition of these four facilities, Lineage will add nearly 38 million cubic feet of capacity and over 113,000 pallet positions in the United States. These facilities will add to Lineage’s existing footprint of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity across 19 countries.
“MTC Logistics’ strong presence at key ports along the U.S. East and Gulf Coasts and focus on best-in-class service and innovation will help better connect our customers to the global food supply chain,” said Greg Lehmkuhl, President and CEO of Lineage. “We look forward to welcoming the MTC team into the One Lineage family and leveraging their expertise to fulfill our vision of becoming the world's most dynamic temperature-controlled logistics company.”
MTC Logistics, was a wholly owned subsidiary of Hoffberger Holdings, Inc. (“HHI”) a diversified privately held investment company of the Hoffberger family of Baltimore, MD. A fifth-generation family business and recognized as one of the International Association of Refrigerated Warehouses (IARW) North American Top 25, MTC provides warehousing services including blast freezing, import/export services, case selection, transportation/port drayage and storage between -20 degrees Fahrenheit and +40 degrees Fahrenheit.
“As part of MTC’s nearly century-long commitment to the refrigerated and frozen warehousing and transportation industry, we have always sought opportunities to be a warm, responsive and dedicated partner to our customers,” said Harry Halpert, Chairman of MTC Logistics and CEO of Hoffberger Holdings. “Our customers and associates will benefit from Lineage’s scale and industry-leading technology, and we are fortunate to find a strong partner who shares our values and customer-centric approach.”
G2 Capital Advisors LLC and Whiteford, Taylor & Preston LLP served as financial and legal advisors to MTC, respectively.
Lineage is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 19 countries across North America, Europe and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivalled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was listed as No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.onelineage.com)
About MTC Logistics
MTC Logistics was a wholly owned subsidiary of Hoffberger Holdings, Inc. (“HHI”) a diversified privately held investment company of the Hoffberger family of Baltimore, MD. MTC Logistics operates four distribution centers with more than 38 million cubic feet of refrigerated and frozen space, serving the ports of Baltimore, MD, Philadelphia, PA, Wilmington, DE, and Mobile, AL.