Lineage Logistics Raises $1.6 Billion in New Equity to Drive Business Growth and Support Further Investment in Technology and Automation
16.9.2020 16:00:00 EEST | 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 $1.6 billion in equity from new and existing strategic partners. Participating investors include Oxford Properties Group (“Oxford Properties”), BentallGreenOak, D1 Capital Partners, Cohen & Steers, OPTrust, CenterSquare Investment Management, and investment funds managed by Morgan Stanley Tactical Value, among others.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200916005331/en/
Lineage Logistics has grown its cubic feet by 60% annually since 2008 to 1.9 billion cubic feet, making it the largest global temperature-controlled industrial REIT. (Photo: Business Wire)
“This significant investment -- from both new and existing investors -- is validation of our business model, our innovative strategy and our plans to continue expanding our footprint as the world’s largest temperature-controlled warehousing and logistics company,” said Greg Lehmkuhl, President and CEO of Lineage. “As we reimagine the food supply chain and execute on our company purpose to eliminate waste and help feed the world, we remain focused on driving value for our more than 5,000 customers by operating globally and deploying industry-changing technologies to create efficiencies across our 320 facilities.”
During 2020, Lineage has announced 16 acquisitions and executed on 15 new expansions and greenfield facilities. The Company also continues to develop a number of the world’s most advanced fully automated warehouses that will reduce environmental intensity, while providing flexible and expansive capacity for customers during a period where the global pandemic is putting acute strain on the global food supply chain. New capital will fuel these increasingly large investments.
“Since the company’s founding in 2008, we have been on a mission to transform the food chain by building a global platform, fueling it with advanced technologies and putting in place a world-class leadership team to lead this industry,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage Logistics. “From the acquisition of our first warehouse, we have been able to build Lineage by having great investors -- this capital raise adds an incredible group of new strategic partners and board participants that will further accelerate our ability to grow and innovate.”
In conjunction with this capital raise, Oxford Properties’ President, Michael Turner, will join Lineage’s Board of Directors, bringing with him decades of commercial real estate experience. Oxford is a leading global investor, developer and manager of commercial real estate with approximately $60 billion in assets under management. Operating across four continents, Oxford’s portfolio spans over 100 million square feet across both global gateway cities and high-growth hubs where it invests in properties, portfolios, development sites, debt, securities and platforms across the risk-reward spectrum.
“Over recent years, Oxford has substantially increased our exposure to logistics real estate by selectively investing in a series of best-in-class operators across the globe, and Lineage represents the premier operator in cold storage sector,” said Oxford Properties’ President Michael Turner. “I look forward to working with the Lineage management team and the rest of the Board, which has transformed the Company into the global market leader. Our investment demonstrates our confidence in the team, the platform it has built and Lineage’s growth opportunities.”
The Company also announced new Board Observers, each with extensive real estate investment experience, including John Carrafiell, a Founder & Senior Managing Partner of real estate investment management and advisory firm BentallGreenOak, and Zhang Xin, CEO SOHO China, one of China’s largest and best known commercial property developers.
Morgan Stanley and Eastdil Secured acted as placement agents, and Latham & Watkins, LLP served as legal counsel for Lineage.
About Lineage Logistics
Lineage is the world’s largest and most innovative provider of temperature-controlled logistics solutions. Lineage’s expertise in end-to-end logistical solutions, its unrivaled real estate network, and its use of technology combine to promote food safety, increase distribution efficiency, advance sustainability, lessen environmental impact, and minimize supply chain waste. As a result, Lineage helps customers ranging from Fortune 500 companies to small family-owned businesses increase the efficiency and protect the integrity of their temperature-controlled supply chain. Lineage has grown its cubic feet by 60% annually since 2008 to 1.9 billion cubic feet, making it the largest global temperature-controlled industrial REIT. In recognition of the company’s leading innovations, Lineage was recognized as the No 1. Data Science company on Fast Company’s Annual list of The World’s Most Innovative Companies in 2019, in addition to ranking 23rd overall in an evaluation of thousands of companies worldwide. (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/20200916005331/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
Wasabi Establishes AI Business in Silicon Valley, Taps Pinaki Mukherjee to Lead as Senior Vice President & General Manager10.9.2026 16:00:00 EEST | Press release
Wasabi Technologies, the hot cloud storage company, today announced the formation of a dedicated AI business, and the appointment of semiconductor and storage veteran Pinaki Mukherjee as senior vice president and general manager to lead it. Wasabi stores hundreds of petabytes of AI data for frontier model labs, generative AI startups, and neocloud compute providers worldwide. This new AI business brings dedicated strategy, partnerships and go-to-market focus for this demand as AI infrastructure matures. “Mukherjee has a track record of driving the kind of high-value partnerships that move markets, and that’s exactly what this moment requires,” said Marty Falaro, president and COO of Wasabi. “AI workloads are pushing storage demand to a scale we've never seen, and Mukherjee is the right person to build the partnerships that extend Wasabi's position as the industry's choice for cloud storage, at the exact moment inference is reshaping what that storage needs to do.” Proven leadership in
Ant Group’s AI Health App AQ Reaches 150 Million Users as It Expands AI-powered Day-to-day Health Use Cases10.9.2026 15:47:00 EEST | Press release
At the 2026 INCLUSION · Conference on the Bund in Shanghai, Zhang Junjie, Vice President of Ant Group and Head of the Health Business, announced that Ant Group’s flagship AI health app AQ has reached 150 million users, handling nearly 20 million health inquiries per day. The new milestone also means AQ has grown its user base by 50% in just 8 months, since it announced 100 million users in February 2026, reflecting strong demand in China’s AI health space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910921103/en/ Ant Group’s AI health app AQ provides personalized health advice based on more than 10 health indicators. Health has become an increasingly important priority among Chinese consumers. According to Accenture’s China Consumer Insights report published in November 2025, the share of Chinese consumers who considered health a priority increased from 78% in 2021 to 87% in 2025, making it the top priority among the a
AULUMU Introduces A18 Series for iPhone 18 With Aramid Fibre, Hybrid Protection and Distinctive Finishes10.9.2026 15:43:00 EEST | Press release
Technology accessories brand aulumu has introduced the A18 Series for iPhone 18, a new collection of smartphone cases designed around lightweight protection, material innovation and distinctive visual finishes. The range includes the A18 Armor Shockproof Aramid Fiber Case, two ultra-slim aramid fibre models, the Ghost Lumen Transparent Case, and the Particle Vegan Leather Case. At the centre of the collection, the A18 Armor combines 1500D aramid fibre and thermoplastic polyurethane (TPU) in a one-piece construction. The hybrid structure pairs the light weight and woven texture of aramid fibre with the flexibility and cushioning properties of TPU. A full-wrap design covers the phone’s edges, while reinforced corners are intended to help distribute impact from everyday drops and bumps. The case is designed to provide drop protection from heights of up to 2 metres, with a 1.36 mm raised screen edge and a 1.3 mm raised camera frame providing additional protection around key areas. The A18
BGC Group Announces its First-Ever Fully AI Brokered Institutional Trade in Listed Equity Derivatives10.9.2026 15:30:00 EEST | Press release
BGC Group Inc. (Nasdaq: BGC) (“BGC”), a leading global brokerage and financial technology company servicing financial markets, today announced it has launched Fenics AI, and that its subsidiary, Aurel BGC, has completed its first-ever fully AI brokered institutional trade in listed equity derivatives, using autonomous AI-powered systems to manage the trading workflow from price discovery through to execution. Fenics AI, BGC’s new proprietary AI trading technology, arranged this landmark transaction on September 3, 2026, in Eurex listed Swiss SMI options between two institutional accounts, including Hudson Bay Capital. This successful first AI trade follows rigorous development and testing to ensure compatibility with applicable market conventions, rules and governance. Fenics AI is expected to be made available to BGC’s clients during the fourth quarter 2026 to deliver significant efficiencies across the trade lifecycle, including price discovery, execution, trade processing, and settl
Coulson Aviation Defines the Next Chapter of Innovation With EmberWorks10.9.2026 15:03:00 EEST | Press release
Coulson Aviation is moving forward with EmberWorks, its dedicated innovation division created to turn real-world operational challenges into new capabilities for aerial firefighting, aviation, and emergency response. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260910644135/en/ Comparison imagery demonstrates how ORBIT uses airborne thermal sensing and automated processing to identify wildfire activity and generate geolocated fire intelligence. First introduced at the Aerial Fire Fighting Global Conference in Rome earlier this year, EmberWorks formalizes an approach to innovation that has existed throughout Coulson’s history. From aircraft modification and mission-system development to programs such as C-130 airtanker, Boeing 737 Fireliner, and CH-47 Chinook helicopter, Coulson has long developed solutions in response to real-world operational needs. EmberWorks builds on that history by giving this approach a dedicated str
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