What is Lineage?
Headquartered in Novi, Michigan, Lineage operates as the world's largest network of temperature-controlled facilities. The company provides an integrated suite of supply chain services, including warehousing, transportation, port services, and high-pressure processing. By leveraging a sophisticated technological framework, Lineage ensures the integrity of the global food supply chain, catering to a diverse range of enterprise-level clients. Its market position is defined by a unique combination of real estate ownership and operational logistics expertise, allowing it to maintain high barriers to entry in a sector essential to global food security.
How much funding has Lineage raised?
Lineage has raised a total of $11B across 12 funding rounds:
Debt
$220M
Debt
$700M
Multiple Rounds
$1.2B
Other Financing Round
$1.9B
Unspecified
$1.7B
Unspecified
$700M
Stock Offering
$4.4B
Other Financing Round
$100M
Private Equity
$1.5M
Debt (2013): $220M with participation from Undisclosed
Debt (2018): $700M led by Stonepeak Partners and D1 Capital Partners
Debt (2020): $500M supported by KKR, Barclays, and Credit Suisse
Debt (2020): $300M featuring Credit Suisse
Private Equity (2020): $80M backed by CenterSquare Investment Management LLC
Private Equity (2020): $360M with participation from Oxford Properties Group
Other Financing Round (2021): $1.9B led by OP Trust, CenterSquare Investment Management, Cohen & Steers, Conversation Capital, Oxford Properties, MS Tactical Value, BentallGreenOak, and D1 Capital Partners
Unspecified (2022): $1.7B supported by CenterSquare Investment Management, D1 Capital Partners, Cohen & Steers, and BentallGreenOak
Unspecified (2022): $700M, investors not publicly disclosed
Stock Issuance/Offering (2024): $4.4B, investors not publicly disclosed
Other Financing Round (2024): $100M, investors not publicly disclosed
Private Equity (2026): $1.5M, investors not publicly disclosed
Key Investors in Lineage
KKR
KKR is a global investment firm investing across private markets in every asset class all over the world, KKR mission is to fortify companies and communities and help secure the futures of the institutions and individuals counting on us.
Barclays
Barclays PLC is a British multinational universal bank providing a wide range of financial services to consumers, businesses, and institutions globally, with a strong focus on digital innovation and sustainable finance.
CenterSquare Investment Management
CenterSquare Investment Management is an independent and diversified real asset manager specializing in listed real estate, private equity real estate, and private real estate debt.
What's next for Lineage?
With the successful closure of this major strategic investment, Lineage is well-positioned to accelerate its capital expenditure programs, focusing on the expansion of its automated facility network and the integration of next-generation data analytics. The company's trajectory suggests a continued emphasis on inorganic growth through strategic acquisitions, alongside internal optimization of its global logistics nodes. As the demand for resilient and efficient cold chain infrastructure intensifies, Lineage is expected to leverage this liquidity to further solidify its leadership in the REIT space, potentially exploring new geographic markets and enhancing its service offerings to meet the evolving requirements of global food distributors.
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