Cold storage provider Yearsley bought by US giant
By Grimsby Telegraph | Posted: 19 Nov 2018
A cold storage company with a major presence in Grimsby has been acquired by an American giant.
Yearsley Group, which operates the huge Tower Central Distribution Centre off Wickham Road, has been bought out by Lineage Logistics Holdings in an undisclosed deal.
Greg Lehmkuhl, president and chief executive of Lineage, a business founded in 2008 with a heritage that has seen major regional players across the US brought together, said: “Yearsley has demonstrated a strong commitment to developing long-standing, bespoke customer relationships that is consistent with how we do business at Lineage.
“Bringing Yearsley into the Lineage family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities."
The company is based in Michigan and controls 600 million cubic feet of space across 100 facilities. Last year it made a first international move with the acquisition of Partner Logistics, a leading automated cold storage provider in Europe.
“We see tremendous alignment between our two organisations, not only in our capabilities to diligently serve customers’ extended supply chains, but also in our dedication to supporting a values-based culture that empowers our growing international workforce," Mr Lehmkuhl added. “Together, we are unquestionably the highest-calibre team in the cold storage space, and we are best positioned to creatively solve our customers’ most complex logistics needs.”
It will now add Yearsley’s 12 UK cold stores, covering 32 million cubic feet, and the 300-plus vehicle fleet.
In Grimsby it operates the former Frigoscandia site, the 112ft cold store built amid great controversy in 1997 due to its height and proximity to Cleethorpes houses. Clients include neighbouring seafood giant Young’s.
Headquartered in Greater Manchester, Yearsley bought the Grimsby site out of administration when Celsius First failed in 2006. It has a capacity to hold more than 35,000 pallets, with around 100 people employed there.
In 2011 it was significantly expanded to offer ambient storage to clients.
Jonathan Baker, chief executive of Yearsley Group, said: “Our acquisition by Lineage is a tremendous opportunity for Yearsley customers and employees alike. Lineage’s commitment to innovation and service is unmatched, and we are excited to strengthen our ability to partner and grow with customers on a global scale unlike ever before.”