By Curt Arthur, SIOR, Managing Director
Lineage Logistics, LLC (“Lineage”), the world’s largest provider of temperature-controlled logistics solutions, announced today it has signed a definitive agreement to acquire Henningsen Cold Storage Co. (“Henningsen”).
Henningsen, based in Hillsboro, has two locations and more than 550,000 square feet of cold storage in the Salem market. Their flagship location in the mid-valley is located in the Mill Creek Corporate Center at 4301 Henningsen Ct. SE with approximately 350,000 sq. ft. on 35.04 acres. The site will accommodate expansion plans for up to 1,000,000 sq. ft. of space. The second location is on the campus of the former Norpac Foods and includes more than 200,000 sq. ft. of cold storage and loading space. The Norpac Foods assets were purchased out of bankruptcy Lineage in early 2020.
SVN Commercial Advisors, LLC co-represents Lineage Logistics in the mid-valley with JLL.
The sale, expected to be completed in the coming months according to a report in Businesswire, will put the total capacity of Lineage at over 1.9 billion cubic feet of temperature-controlled capacity across 311 facilities in 11 countries, with a global footprint that spans North America, Europe, Asia, Australia, and New Zealand.
Henningsen Cold Storage Co., which was founded in 1923 by Waldemar F. Henningsen, Sr., originally operated under the name “Northwestern Ice & Cold Storage Inc.,” and stands today as a fifth-generation family business with a legacy of reliability and long-standing, excellent relationships with customers.
“We have known the Henningsen family since our earliest days in the cold chain industry and have a deep respect for the business, culture, and reputation they have built over generations,” said Kevin Marchetti, Co-Founder of Lineage Logistics and Bay Grove. “When we founded Lineage a little over eleven years ago, we looked to emulate companies like Henningsen that built their company with a long-term mindset. With this transaction, we will bring together two companies with that type of approach and make them both even stronger together.”