Lineage expands footprint in Belgium with 'strategic' Luik Natie buy

– Lineage completes acquisition of Luik Natie, a provider of cold storage warehousing and transportation services in the Port of Antwerp-Bruges, Belgium.

– The large port-side campus includes a mixture of freezer and cooler facilities along with space for containers. 

– Luik Natie’s terminal is approximately 80% energy independent, generating most of its own energy from wind, solar and battery.

AMSTERDAM – Lineage, Inc. (NASDAQ: LINE) (“Lineage”), the world’s largest global temperature-controlled warehouse REIT, today announced that it has completed the acquisition of Luik Natie, a cold storage and transport service provider located in the Port of Antwerp-Bruges, Belgium. The acquisition expands Lineage’s presence in Belgium and enhances its current capabilities in the region.

Luik Natie operates a collection of facilities on a single campus spanning over 61.000 square meters, generating most of its own energy through wind, solar, and battery sources, in alignment with Lineage’s ongoing focus on reducing emissions. The campus is equipped with advanced freezing and cooling services to keep perishable goods fresh as well as container storage solutions. Additionally, the campus includes a transportation division and offers freight forwarding services, providing an integrated solution for the full supply chain.
   
“The strategic location of Luik Natie at the Port of Antwerp-Bruges – the second largest port in Europe – will help to support our current transport and storage services across Belgium and Europe,” said Harld Peters, President of Europe at Lineage. “This acquisition represents a significant step in our ongoing efforts to innovate the global food preservation industry, aiming to maintain the highest quality and safety standards.”

“Lineage’s acquisition of Luik Natie is a strategic move that expands Lineage’s presence in Europe and opens up new opportunities for both companies. By joining forces, we can provide customers with better and more efficient logistics solutions,” said Stefaan Verhelst, Managing Director of Luik Natie.

This is Lineage’s first acquisition after its IPO on July 25, 2024 and builds upon Lineage’s strong track record of growth through high-quality acquisitions. This acquisition demonstrates Lineage’s commitment to supporting global food and retail sectors, leveraging a network that includes more than 480 facilities worldwide.

Lineage worked closely with Seven Lakes Partners, acting as financial advisors for the sale process.