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United Premium Foods Purchases Amboy Group Out of Bankruptcy
The Board of Directors of United Premium Foods (“UPF”), a private investment group based in N.J., today announced the company has purchased the Amboy Group, a provider of quality meat and food products, out of bankruptcy. In addition to UPF’s acquisition of Amboy, Amboy Woodbridge Realty, an entity affiliated with UPF, acquired the real property and cold storage business.
“The acquisitions include a state-of-the-art meat processing and cold storage facility, as well as an extremely strong and loyal customer base,” said Jim Kwon, chairman and acting CEO, UPF. “We are confident that with additional working capital, supplemental management and a new operating team, we can improve operating efficiencies while growing the company’s market share and reach. This investment is affirmation of our belief in the strong fundamentals of the business and our confidence in the upside potential of this company...
Worldwide Cold Storage Market Expected to Grow
The global cold storage market size is anticipated to reach USD 212.54 billion by 2025 expanding at a CAGR of 12.2%.
The retail sector in emerging economies, such as India and China, is getting more organized and this trend is expected to augment the demand for cold storage over the forecast period. Government policies to deregulate the entry of foreign companies have increased the Foreign Direct Investment (FDI) in the retail sectors of...
Americold Realty Trust Announces the Strategic Acquisition of Cloverleaf Cold Storage
Americold Realty Trust (NYSE: COLD) (the “Company” or “Americold”), the world’s largest publicly traded REIT focused on the ownership, operation and development of temperature-controlled warehouses, announced today that the Company has entered into a definitive agreement to acquire privately-held Chiller Holdco, LLC (“Cloverleaf Cold Storage” or “Cloverleaf”) from Cloverleaf management and an investor group led by private equity funds managed by Blackstone (NYSE: BX) for a purchase price of $1.24 billion (subject to customary adjustments). The closing of the acquisition is subject to customary closing conditions and is expected to occur in the second quarter of 2019.
Founded in 1952 and based in Sioux City, Iowa, Cloverleaf is the fifth largest cold storage provider in the United States by refrigerated cubic feet and serves over 360 customers. The portfolio to be acquired consists of ...
Linear Logistics Acquires Preferred Freezer Services to Become #1 Temperature Controlled Logistics Co.
Lineage Logistics announced on Monday that they have signed a definitive agreement to acquire Preferred Freezer Services. The acquisition makes Lineage Logistics the largest refrigerated warehousing and logistics provider in North America, as well as global.
“We are thrilled to welcome Preferred into the Lineage family of companies,” said Greg Lehmkuhl, Lineage President and CEO. “Bringing their first-class management team, deep industry experience and network of strategically located facilities into our organization will enable us to provide best-in-class service offerings for customers worldwide...
ANALYSIS: Turkey Freezer Stocks: Never Look a Gift Horse in the Mouth
Following what is arguably the most logistically challenging time of the year, last Friday’s Cold Storage Report gave...
Preferred Freezer Services Opening New Atlanta West Cold Storage Facility
Preferred Freezer Services (PFS), a global leader in advanced design and engineered temperature-controlled warehousesis excited for the much-anticipated opening of Atlanta West later this month. Within the next few weeks, the temperature will be lowering inside the cold-storage facility to prepare for the opening.
“The entire Atlanta team is ecstatic to begin receiving product at our new Atlanta West facility in just a few weeks,” said Ryan Laurent, Regional Director. He went on to mention, “for the last two years our customers have been looking for Preferred to expand our Southeast footprint for the Atlanta market. We are excited to deliver them a state-ofthe-art facility as the holiday inventory build begins...
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