Temperature-controlled industrial REIT buys Spanish cold-storage distributer

Lineage Logistics has plans to acquire Grupo Fuentes, a major operator of transport and cold storage facilities, headquartered in Murcia, Spain.

Grupo Fuentes operates a fleet of more than 500 vehicles and trailers, six logistics centers, a cold storage warehouse, and services supporting those facilities. It is also a founding member of Reefer Terminal, a strategic partnership to create an intermodal transportation platform combining road and rail cold-storage transport services.

“My father started the company with just one truck more than 30 years ago, and the business has grown into one of Spain’s leading providers of transportation and logistics services,” said Rafael Fuentes, CEO of Grupo Fuentes. “I am proud to look forward to having the company form part of Lineage, as part of a global group at the forefront of innovation in the sector. The Fuentes family is expected to continue to lead Lineage’s business in Spain and will play a leading role in Lineage