Lineage Logistics is expanding into Canada after reaching an agreement to acquire Ontario Refrigerated Services (ORS), the company said on Thursday.
The acquisition gives Lineage Logistics a foothold in the Canadian market with a capacity of more than 16 million cubic feet.
Ingersoll-based ORS’s four facilities are about 90 miles east of Toronto within reach of Canada’s largest metropolitan area and two key U.S. border crossings with Michigan and New York.
“The Ontario market is a cornerstone of the Canadian economy, making this the natural place for Lineage to launch our broader Canadian market platform,” Greg Lehmkuhl, president and CEO of Lineage, said in a statement.
Lineage Logistics is the world’s largest provider of temperature-controlled storage. The Novi, Michigan-based company has 1.9 billion cubic feet of capacity at 300 facilities in 13 countries.
It closed its acquisition of Emergent Cold in June, adding more than 40 facilities to Lineage’s network.
Lineage Logistics did not disclose a price for ORS. The acquisition is expected to close in the coming weeks.
The founders of family-owned Ontario Refrigerated Services, Robert and Patrick Molyneux, will join Lineage as advisers.
Click for more FreightWaves articles by Nate Tabak.
Mullen Group profit plunges 27%, but CEO sees turnaround