Lineage Logistics Announces $1.7 Billion in New Equity to Fuel Supply Chain Innovation and Growth
4.1.2022 16:00:00 EET | Business Wire | Press release
Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has raised $1.7 billion in equity from new and existing strategic partners. Participating investors include BentallGreenOak, CenterSquare Investment Management, Cohen & Steers, D1 Capital Partners, Healthcare of Ontario Pension Plan (HOOPP), NYSTRS, OP Trust, Oxford Properties, QuadReal Property Group, Rabobank, StepStone, and others.
“This latest round of funding is further validation of our business strategy and will be used to double down on our commitment to offering innovative, end-to-end supply chain solutions for our customers worldwide,” said Greg Lehmkuhl, President and CEO of Lineage. “As we head into 2022, this new equity gives us even more confidence in our ability to drive future growth opportunities for our business, the industry, and the wider food supply chain.”
The new capital will strengthen Lineage’s balance sheet and will fuel Lineage’s investments in industry-leading technology, including automation and proprietary software tools that help to improve supply chain efficiencies. It will also be used to fund Lineage’s growth through greenfield developments, facility expansions, and investments in clean energy initiatives.
“While Lineage has already achieved significant growth since its founding in 2008, the company remains as committed as ever to its promise of preserving, protecting, and optimizing the distribution of food,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage Logistics. “Lineage’s continued growth and investments in technology and innovation would not be possible without our incredible investors. We are excited to have fresh capital from this latest funding to deploy in our business and create new solutions and capacity for our customers, particularly during this time of significant disruption in global supply chains.”
The equity raise follows Lineage’s latest funding round of $1.9 billion, announced in March 2021. The latest funding brings the total equity raised since January 2020 to $6 billion.
Morgan Stanley acted as financial advisors, and Latham Watkins served as legal counsel for Lineage.
About Lineage Logistics
Lineage Logistics 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 unrivaled 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.lineagelogistics.com)
About Bay Grove
Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220104005342/en/
Contact information
Lineage Logistics
Megan Hendricksen
949.247.5172
mhendricksen@lineagelogistics.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Armis Launches First-of-Its-Kind Benchmark Report Warning of Critical Security Gaps in AI-Native Development19.3.2026 14:00:00 EET | Press release
Armis, the cyber exposure management & security company, is warning that the rapid enterprise adoption of AI-native development is outpacing critical security safeguards, leaving organizations exposed to systemic vulnerabilities. New research from Armis Labs’ Trusted Vibing Benchmark Report, which evaluates 18 leading generative AI models across 31 test scenarios, reveals a 100% failure rate in generating secure code. These vulnerabilities are most prevalent in high-risk areas like memory buffer overflows, design file uploads and authentication systems. Therefore, organizations should immediately implement AI-native application security controls to reduce risk. “The era of vibe coding is here, but speed should not come at the cost of security,” said Nadir Izrael, CTO and Co-Founder of Armis. “Our research finds that the worst offenders are the same ones selling security solutions for the very vulnerabilities their models create. If the industry continues to integrate autonomous code wi
Morocco’s FRMF Welcomes CAF Appeal Board as Upholding Rules, Stability of International Competitions19.3.2026 13:53:00 EET | Press release
Following the announcement by the CAF Appeal Board, the Royal Moroccan Football Federation (FRMF) welcomes the decision, which reaffirms the primacy of competition regulations and reinforces the conditions necessary for the proper conduct of international tournaments. From the outset, following the incidents that led to the interruption of the match, the FRMF maintained a clear and consistent position: the strict application of the governing regulations. The Federation’s approach was solely guided by this principle. Following its appeal, CAF has now confirmed that the applicable regulations were not properly enforced. Throughout the process, the FRMF acted in full compliance with all relevant legal and procedural frameworks, with a constant focus on upholding its rights and preserving the integrity of the competition. This decision provides clarity on the applicable framework and strengthens the consistency and credibility of international competitions, particularly within African foot
Keenfolks Launches KEENFOLKS X_19.3.2026 13:00:00 EET | Press release
The traditional holding company model that has shaped global marketing for decades is facing increasing pressure as capital markets, consolidation activity, and client demands point to a need for structural change. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260319751842/en/ Miguel Machado, CEO and Co-Founder, Keenfolks The marketing industry is searching for a new model. The question is no longer whether agencies need to change, but which ones were built for this shift from the start. Keenfolks, the Integrative AI® partner built natively for the Age of Intelligence, today announces the launch of KEENFOLKS X_ — a new global AI-native marketing network designed to help organizations move beyond fragmented services and toward intelligent systems, scalable solutions, and measurable transformation. The network is built on K OS_, Keenfolks’ proprietary marketing operating system, which connects intelligence, data, automation,
Hilton Announces Exclusive Agreement with YOTEL to Expand Global Footprint in Lifestyle Segment19.3.2026 13:00:00 EET | Press release
Hilton (NYSE: HLT) today announced an exclusive agreement with YOTEL that will provide guests yet another way to stay within the hospitality leader’s growing global portfolio. With highly efficient hotels in urban markets, YOTEL has pioneered ways to meet changing guest needs through stays that feature smart room design, and clever tech-enabled features. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318705963/en/ YOTEL Boston The franchise agreement with YOTEL expands Hilton’s network, filling a distinct customer need in the growing lifestyle segment in a manner consistent with its proven asset-light model. YOTEL will continue to independently manage and license its brand at 23 hotels across 10 countries, with a goal of more than tripling its portfolio in the coming years. YOTEL will be the first brand in the newly established Select by Hilton. Select by Hilton is designed to grow into a brand that creates new ways to st
Infobip's 20-Year Analysis of 3.8 Trillion Messages Reveals Rise of Omnichannel, RCS and AI-Driven Communication19.3.2026 12:45:00 EET | Press release
AI-first cloud communication platform Infobip has released its Messaging Trends Report 2026, offering an analysis of the state of business communication. Drawing on data from 628 billion mobile interactions in 2025 and a historical review of 3.8 trillion messages over the past 20 years, the report charts the evolution from single-channel messaging to complex, AI-powered omnichannel experiences. The data reveals a shift in how brands engage with customers. While SMS remains a critical pillar for reliability, accounting for 62% of traffic, the growth of rich, conversational channels is accelerating. RCS traffic grew 3x globally last year, with 70x increase in North America. WhatsApp continues to dominate the conversational landscape, facilitating 91% of all conversational AI interactions on the platform, marking a 25% increase year over year. Key findings: Agentic AI is enabling the next major steps in business messaging. Moving beyond simple chatbots, AI agents are now capable of autono
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom