Vertical Cold Storage acquires Detroit operator Arctic Logistics
The acquired location adds 140,000 square feet, 19 dock doors and more than 20,000 pallet positions to Vertical Cold's network. The site is U.S. Department of Agriculture inspection-certified and provides storage temperatures ranging from negative 20 degrees to 40 degrees Fahrenheit.
The deal marks Vertical Cold's fifth facility acquisition in the past year. Financial terms of the transaction were not disclosed.
'This acquisition strengthens our ability to support customers engaged in cross-border trade and adds a critical location to our growing national footprint,' said Jim Henderson, chief commercial officer of Vertical Cold, in a news release. 'With evolving complexities in U.S.-Canada trade, we're committed to being a reliable cold chain partner for producers and buyers on both sides of the border.'
Kansas City, Missouri-based Vertical Cold specializes in the handling and distribution of frozen commodities across a network of 12 locations in major markets like Chicago, Dallas, Indianapolis, Miami and Charlotte, North Carolina. Its services include blast freezing, case picking, import-export and storage, among others.
Backed by Platform Ventures, the company focuses on the acquisition and buildout of temperature-controlled facilities.
'In Vertical Cold we have found the perfect partners to bring our business to the next level for the benefit of our customers and our team. All of us are looking forward to a quick and easy transition, and then to sustained growth,' said John Connor, president of Arctic Logistics.
More FreightWaves articles by Todd Maiden:
Lineage finalizes acquisition of Bellingham Cold Storage
March supply chain data craters following inventory pull-forward
Yellow's new bankruptcy plan revealed, next steps still uncertain
The post Vertical Cold Storage acquires Detroit operator Arctic Logistics appeared first on FreightWaves.
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