This year’s Future of Freight Festival takes place Nov. 19-21 in Chattanooga, Tennessee. But it’s not your average conference. Sure, there are wonderful speakers and fireside chats. But that’s only half the fun. F3 is set up with half-days of speakers and amazing content. The other half we take over downtown Chattanooga, and there are events, networking and a lot of fun to be had by all. This year, subscribers to Running on Ice get a promo code exclusive to us! You can register with this link or use the code F3ROI24 at checkout for a discount.
All thawed out
The Germany-based Viessmann Generations Group has signed an agreement to acquire U.S.-based insulated panel system manufacturer KPS Global LLC. KPS Solutions creates custom enclosures for controlled environments.
According to a Cooling Post article, “KPS offers a broad range of walk-in solutions and services for cold chain and non-refrigerated environments across the food, retail and scientific market among others. The company caters to large, non-cyclical end markets across food retail, scientific and cold storage.”
This isn’t the first U.S. investment for Viessmann. In 2023, it acquired BMIL Technologies, a North Carolina-based cold room and refrigeration equipment supplier.
Temperature checks
Vertical Cold Storage finalized the acquisition of the frozen distribution center from Dothan Warehouse Investors in Dothan, Alabama. The primary focus of this new distribution center is providing export services to local poultry producers, but it can handle additional cold storage needs.
“We are excited to add Dothan to our growing network of temperature-controlled distribution centers and are looking forward to partnering with them as we focus on integrating the business and serving our customers,” West Hutchison, president and CEO of Vertical Cold Storage, said in a news release. “Dothan is the third operation we’ve added to our network this year and we will finish the year with at least one, maybe two more.”
Food and drug
Leggo my Eggo is something that candy giant Mars will soon be able to say. Mars recently purchased Kellanova for a staggering all-cash $35.9 billion. Kellanova is the manufacturer of fan favorites like Eggos, Pop-Tarts and Pringles. This is one of the largest CPG mergers in years.
Kellanova was known as Kellogg Co. until last fall, when Kellanova was spun off from Kellogg. That split turned Kellogg into two separate companies, snacking (Kellanova) and cereal (WK Kellogg Co.)
According to a news release, “Mars will acquire all outstanding equity of Kellanova for $83.50 per share in cash. All of Kellanova’s brands, assets and operations, including its snacking brands, portfolio of international cereal and noodles, North American plant-based foods and frozen breakfast are included in the transaction. The deal is expected to close in the first half of next year. Upon completion, Kellanova will become part of Mars Snacking.”
Cold chain lanes
This week’s SONAR market is Ontario, California, neighbor to the ports of LA and Long Beach, import capitals of the U.S. Reefer outbound tender rejections are staying relatively consistent week over week, with a drop of only 39 basis points. Rejections are still at 13.25%, which isn’t amazing for shippers in regard to carrier contract compliance but is an improvement over levels from May/June, when reefer rejection rates were closer to 30%. Reefer outbound tender volumes have increased 4.83% w/w to maintain consistent levels for the past month.
Is SONAR for you? Check it out with a demo!
Shelf life
Refrigerated carrier A&A Express closes South Dakota facility, cuts 111 jobs
ColdTrack is highlighted on the Inc. 5000 list for the fourth consecutive year
New portable cold stores deliver energy efficiency and sustainability advantages for Blue Cube
Linfox and Krueger create custom-built trailers
Wanna chat in the cooler? Shoot me an email with comments, questions or story ideas at moconnell@freightwaves.com.
See you on the internet.
Mary
If this newsletter was forwarded to you, you must be pretty chill. Join the coolest community in freight and subscribe for more at freightwaves.com/subscribe.
